Moderna Stock Heads for Worst Day Ever on Forecast Cut

Summary of Key Points Core Viewpoint - Moderna Inc has lowered its 2025 revenue forecast to a range of $1.5 billion to $2.5 billion, reflecting a $1 billion reduction from previous estimates due to weaker demand for its Covid-19 and RSV vaccines [1] Company Performance - The stock price of Moderna Inc dropped 24% to $32.11, marking its lowest level since April 2020 and indicating a significant decline in market confidence [2] - The company is facing its third consecutive annual loss and has already decreased more than 22% in the first two weeks of January, highlighting a steep recovery challenge for 2025 [2] Market Activity - Options trading activity has surged, with 40,000 puts and 77,000 calls exchanged, which is four times the average intraday volume, indicating heightened speculation among traders [3] - The most popular options are the January 2025 38 call and the 34.50 call, with new positions being opened in both [3] Sentiment Shift - There is a notable shift in sentiment as indicated by Moderna's Schaeffer's put/call open interest ratio (SOIR) of 52%, which is in the low 1st percentile of annual readings, suggesting that short-term options traders are currently more call-biased [4]