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Moderna, a leading COVID-19 vaccine manufacturer, experienced a 9% drop in its shares on Monday, making it the worst performer in the S&P 500. The decline followed an announcement from Pfizer (NYSE:PFE)’s CFO David Denton at an industry conference. He projected a 24% vaccination rate in the U.S. in 2023, echoing Moderna’s own forecasts and indicating a challenging period ahead.
Despite this setback, Moderna had seen a rally in its stock last week following an extension of its emergency use authorization from the U.S. Food and Drug Administration for new versions of its vaccine targeting recent variants of the virus. Additionally, the company stirred optimism with plans to offer combination vaccines for both COVID-19 and influenza. While long-term investors remain hopeful about Moderna’s potential to develop vaccines and treatments for other diseases, short-term traders are focused on immediate challenges such as lower vaccine adoption rates.
Unity Software also faced a downturn on Monday with an approximately 8% fall in its shares. The video game software provider came under criticism following a controversial decision to impose new fees on developers based on the number of game installations. This move sparked outrage among Unity’s most loyal supporters, particularly as competing software providers offer similar services without such charges.
However, reports emerged on Monday suggesting that Unity might be considering modifications to these changes. The company may cap the fees according to each game’s revenue rather than completely eliminate them. Additionally, unpopular aspects of the policy such as retroactive fee charges and the use of surveillance tools for verification may be replaced with more acceptable alternatives. As Unity seeks to increase its software monetization, it must balance this objective against the risk of alienating crucial users.
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