Moderna Stock Plummets on Cost-Cutting Measures

Shares of Moderna Inc (NASDAQ:MRNA) are plummeting today, after the biotech giant announced it was slashing its research budget by about 20%. The company also teased the launch of 10 new products before then. On the short sell restricted (SSR) list amid the volatility, MRNA was last seen down 17.8% at $65.38, hitting its lowest levels since early November. The stock has continued to move lower since its 21.1% post-earnings drop on August 1, and is currently down 35.4% year to date. Options traders are chimi ...