Why Are Moderna Shares Trading Higher On Friday?

Moderna Inc MRNA shares are up over 20% during the trading session on Friday. There are no direct news reports from the Company, so there are external factors at play.

The share price is apparently connected to the new COVID-19 variant. 

• Investors believe that there will be more significant and longer-term demand for the vaccine that Moderna has developed. They might also be looking for the Company to develop potential new versions to fight current and future variants more effectively.
• The World Health Organization will be holding an emergency meeting today to assess a coronavirus variant spreading across South Africa. 
• “Initially, it looked like some cluster outbreaks, but from yesterday, the indication came from our scientists from the Network of Genomic Surveillance that they were observing a new variant,” said Minister of Health Joe Phaahla via CNN.
• Related Link: What We Know About The New COVID-19 Variant Spreading In South Africa.
• Price Action: MRNA shares are up 25.8% at $343.90 during the market session on the last check Friday.