Moderna Inc. is taking advantage of the Omicron variant with news that it mobilized 100s of workers to start working on the Omicron jab. Its stock soared as high as 14%, “the highest level in two months,” again putting it back on top as “top performer on the S&P 500 year-to-date.”
“SARS-CoV-2 is not going away and will provide years of future revenues,” wrote analyst Edward Tenthoff to his clients.
The timing of Omicron’s emergence in South Africa is suspicious as it came the same day, Nov. 24, the country announced that it would be delaying further shipments of Covid-19 vaccines from both Pfizer and Johnson & Johnson due to poor vaccine uptake. Many see the emergence Omicron in South Africa as punishment for delaying scheduled vaccine deliveries.
The truth is the vaccines are not necessary in Africa, as less than 6% vaccinated in all of Africa and Covid-19 remains non-existent.
Such premature market fervour also indicates that finished clinical trials for vaccines, that is, with proof of long-term safety and efficacy, may be a thing of the past.
