Why Moderna Stock Surged Today

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Shares of Moderna (NASDAQ: MRNA) leapt 7.4% on Tuesday after the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) recommended a temporary halt to Johnson & Johnson‘s (NYSE: JNJ) COVID-19 vaccine rollout.

The CDC and FDA are asking states to pause immunizations with J&J’s drug while they investigate six reported U.S. cases of blood clots in people who received the vaccine. The regulatory agencies noted that these incidents were “extremely rare,” as more than 6.8 million doses of J&J’s vaccine have been administered. 

Moderna’s stock price rose sharply on Tuesday. Image source: Getty Images.

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