Moderna to be added to the S&P 500

Moderna to be added to the S&P 500

One of the pharmaceutical companies that came into the public eye since the pandemic will reach a significant milestone

Starting July 21, Moderna Inc will replace Alexion Pharmaceuticals in the S&P 500 index. The addition to one of the closely tracked benchmarks followed the $39 billion Alexion takeover by AstraZeneca in December 2020.

It seems like Moderna is on a roll this year. It posted stronger-than-expected Q1 earnings of $2.84 per share on revenues of $1.9 billion in May. It updated its full-year vaccine sales forecast to $19.2 billion for the full fiscal 2021. Moreover, the group formally asked the US Food and Drug Administration to approve the request to allow its COVID-19 vaccine to be administered to teenagers in the following months.

After the news hit the wires, during today’s pre-market trading, Moderna shares traded 7.8% higher, indicating an opening price of $280 apiece – an all-time high. If the momentum is steady, this could point to a year-to-date gain of around 168%, pushing the market cap to $112 billion.

Sources: finance.yahoo.com, thestreet.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.