Mer­ck sells off its Mod­er­na stake af­ter mak­ing record gains amid the pan­dem­ic

Af­ter record­ing close to a bil­lion dol­lars in in­vest­ment earn­ings over 9 months, dri­ven most­ly by Mod­er­na’s soar­ing stock, Mer­ck is cash­ing out.

The com­pa­ny sold its stake in $MR­NA — which it’s held since 2015 — in the first half of the quar­ter, caus­ing a tem­po­rary 2.5% dip in Mod­er­na’s share price be­fore the mar­ket opened on Wednes­day. By late morn­ing, the stock was back up 3.4%. The news comes just two weeks be­fore an FDA ad­vi­so­ry com­mit­tee meet­ing to dis­cuss Mod­er­na’s ap­pli­ca­tion for emer­gency use of its Covid-19 vac­cine.

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