We recently compiled a list of the 10 Firms Fall Amid Disappointing Earnings Performance. In this article, we are going to take a look at where Moderna, Inc. (NASDAQ:MRNA) stands against the other stocks.

Wall Street’s main indices all finished in the green territory on Tuesday, buoyed by news that the US is set to temporarily delay taxes levied on select goods from Canada and Mexico to make way for a potential negotiation.

The Dow Jones inched up by 0.30 percent, while the S&P 500 and Nasdaq both jumped 0.72 percent and 1.35 percent, respectively.

Meanwhile, 10 companies bucked an overall positive market sentiment, leading declines mostly due to disappointing earnings performance in the past quarter. This article details the reasons behind their poor performance.

To come up with Tuesday’s biggest losers, we only considered the companies with $2 billion in market capitalization and $5 million in daily trading volume.

A scientist surrounded by vials and beakers in a modern laboratory, proudly displaying a vaccine.

Moderna, Inc. (NASDAQ:MRNA)

Shares of pharmaceutical giant Moderna, Inc. (NASDAQ:MRNA) declined by 6.51 percent on Tuesday to end at $34.17 per share as analysts pointed to Robert F. Kennedy Jr.’s advancement in his nomination as secretary for Health and Human Services as having weighed down investor sentiment.

Just recently, the Senate voted in favor of Kennedy’s nomination as the department’s secretary, sparking fears among investors over his anti-vaccine stance. Despite his denial, Kennedy was said to be a prominent figure in the anti-vaccine movement, raising doubts about vaccine safety and efficacy.

If confirmed, Kennedy would be responsible for managing the department’s $3 trillion in healthcare spending and overseeing health insurance for hundreds of millions of Americans.

Overall MRNA ranks 8th on our list of Tuesday's biggest losers. While we acknowledge the potential of MRNA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MRNA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.