Why Moderna Stock Soared Today

Shares of Moderna (NASDAQ: MRNA) jumped 12.2% on Monday after the biotechnology company said its COVID-19 vaccine provides protection against new coronavirus strains first identified in the U.K. and South Africa. Scientists have discovered several new variants of the novel coronavirus that are more contagious -- and potentially more dangerous -- than previous versions. Doctors, in turn, have questioned whether Moderna's vaccine would be effective against the new strains.