4 Reasons Investors Are Betting Against Moderna

Moderna (NASDAQ: MRNA) has been developing new drugs for 10 years without a late-stage clinical trial success and a growing number of intrepid short sellers betting the company's dry spell will continue through the end of 2020. The number of Moderna shares sold short passed 28 million on June 15, a 26% increase from the amount sold short at the end of May. At last glance, around 9.8% of all Moderna shares were held in risky positions that only reap rewards if the company's coronavirus vaccine candidate, mRNA-1273 doesn't succeed in a phase 3 trial that's already been delayed once.