Moderna jumps onto the S&P 500 train on July 21 – Stock Exchange


Moderna, the US biotechnology company responsible for one of the vaccines considered effective against covid-19 – which was authorized on December 18 in the US and on January 6 in the European Union – will be included in the Standard & Poor’s 500 index as of July 21, replacing Alexion Pharmaceuticals, announced tonight the entity that manages this index, the S&P Dow Jones Indices.

The shares of Moderna, which is already quoted on the technological Nasdaq, continue to soar in trading outside the regular hours (“after-hours”) of the stock exchange, with a rise of 7.40% to $278.90.

Year-to-date, Moderna appreciated 149%.

Alexion, which leaves and thus gives way to Moderna in the S&P 500, will be bought by AstraZeneca – which also developed a vaccine against covid, in partnership with the University of Oxford – for 39 billion dollars.

The “Index Committee” of the S&P Dow Jones Indices meets quarterly to re-evaluate the index, but companies can be added to or withdrawn from the S&P at any time.

Inclusion is based on both quantitative and qualitative factors. In addition, the company must be headquartered in the US and already listed on the NYSE (New York Stock Exchange), Nasdaq (Technology Index) or CBOE (Chicago Options Exchange).

For a company to be eligible it must also have a market cap in excess of $8.2 billion and report four consecutive quarters of earnings under accounting standards – so-called GAAP.

Moderna currently has a market capitalization of US$104.27 billion.


Source: Jornal de Negócios by www.jornaldenegocios.pt.

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