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Benzinga

Business

Melanie Schaffer

Pharma Giants Moderna And Novavax Trend Lower In This Pattern: What's Going On?

Moderna Novavax Moderna Inc Novavax Inc

Moderna Inc. (NASDAQ:MRNA) and Novavax Inc. (NASDAQ:NVAX) were trading down over 2% and 4%, respectively in the premarket Friday despite both stocks showing signs a bounce could be in the cards.

The weak price action in the pharmaceutical giants is likely due to very bearish action in the general markets, which saw the S&P 500 looking to plunge 1.35% to start the trading day and end a bearish week.

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