44% drop in Moderna's stock cited by Cramer; company aims to cut costs by $1.1 billion by 2027.
Jim Cramer, host of CNBC's "Mad Money," reported a 44% drop in Moderna's stock, citing decreased demand for its COVID-19 products and a lack of new offerings. In response, Moderna plans to cut costs by $1.1 billion by 2027, pausing or discontinuing some projects. Cramer also discussed challenges faced by dollar stores and highlighted the need for new market entrants, urging caution against over-reliance on established AI stocks, which have also seen declines.
October 05, 2024
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