Shares of Moderna Inc. (NASDAQ: MRNA) surged over 12% after news of the first confirmed death from the H5N1 bird flu in the United States. At one point, the stock had climbed over 14% before returning late in the trading session. However, the stock retreated after hours, trading at $47.53, and has since declined further.
Whenever a stock makes a sharp move on news like this, investors need to take a deep breath before making any investment decisions. In this case, the move in MRNA stock is mostly reactionary. Short interest is around 11%, so any surge in buying would trigger some short covering.
