/Moderna%20Inc%20meds-by%20Ascannio%20via%20Shutterstock.jpg)
It’s hard to believe Moderna (MRNA) once had a market cap exceeding $204 billion. That was in August 2021 at or near the height of the COVID-19 pandemic.
As a result of Moderna possessing one of the leading global vaccines to beat back the virus, its valuation was 20x what it is today.