Some additional thoughts and comments on Moderna, its coronavirus vaccine, the stock’s valuation and Monday night’s $1.3 billion stock sale:
Of course, Moderna raised money. It was only one week ago that I described Moderna’s $23 billion enterprise value as “astonishingly high” for a company with no approved products and no appreciable revenue. Monday, it was $29 billion, with the stock reaching another all-time high of $80 per share, or four times the price from the beginning of the year.
I’ll say it again. Moderna has become biotech’s Tesla.
Please get me off your mailing list. Thank you.
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