Moderna Shares Rise on New Vaccine Announcement and Peloton Interactive Shares Jump on Private Clothing Brand
On Thursday, shares of Moderna jumped, closing up 7.81%.
Shares of the American pharmaceutical and biotechnology company rose after the company announced numerous developments at its annual research and development update.
The company said it is working on a two-in-one vaccine booster injection that will protect against both Covid-19 and the seasonal flu. According to a press release, the new vaccine, dubbed mRNA-1073, combines Moderna’s existing Covid vaccination with a flu shot that is currently in development.
The news follows Moderna’s successful introduction of its two-dose Covid vaccine, approved by the FDA for emergency use in December. According to data provided by the CDC, more than 147 million Moderna vaccinations have been delivered in the United States.
Shares of Moderna have skyrocketed 110% in the past three months.
On Thursday, shares of Peloton Interactive rose, climbing 9.83%.
Shares of the high-tech exercise equipment company rose after launching its clothing brand, Peloton Apparel.
Peloton Apparel will sell clothes for ladies, men, and gender-neutral people, with prices ranging from $15 to $118. The new gear will be made of performance-tested materials that allow individuals to move freely during training sessions.
Peloton is stepping up its efforts in the sports gear industry, putting it in direct competition with brands like Lululemon (#lulu).
Shares of Peloton Interactive have fallen nearly 5% in the past month.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.