Moderna, Novovax stocks slide after Trump nominates Robert F. Kennedy Jr. to be top health official
Published On Nov 14, 2024, 6:07 PM
The stocks of vaccine manufacturers Moderna and Novavax declined sharply following the news that President-elect Donald Trump has nominated Robert F. Kennedy Jr., an anti-vaccine activist, to lead the Department of Health and Human Services. Shares of Moderna dropped over 5%, while Novavax fell more than 7%. This downturn reflects investor concerns regarding Kennedy's anti-vaccine stance, which could impact the vaccine sector negatively.
Stock Forecasts
MRNA
Negative
With Robert F. Kennedy Jr. taking a prominent position in health policy, companies like Moderna (MRNA) and Novavax (NVAX) may face increased scrutiny and skepticism, potentially resulting in weakened trust in their products. Investors may be concerned that this political change could lead to reduced vaccination rates and altered public health policies, negatively impacting profits for these companies.
NVAX
Negative
Similar to Moderna, Novavax (NVAX) is likely to experience downward pressure as market sentiment shifts unfavorably due to the nomination of Kennedy. This could hinder investor confidence in future vaccine sales and contracts, leading to a further decline in stock value for Novavax.
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