Data scientists collect, organize, and analyze tens of billions of data points, including quarterly financial data and daily price information, from over 15,000 public companies spanning more than 35 years. They identify the factors that cause stock prices to rise and fall and calculate the statistical probability and magnitude of these price movements.

By Raymond M. Mullaney, CEO
January 13, 2025

On August 9, 2021, Moderna traded at $484.17. Since then, it plummeted 93%. Today it fell ~20%.

In 2021, 1,196 large U.S. financial institutions owned Moderna. Millions of middle-income investors and retirees—individuals who cannot afford significant losses and rely on institutional fiduciaries to prioritize investments with strong earnings histories and proven valuation metrics—were indirectly exposed to Moderna through index funds and mutual funds. These funds, which market themselves as prudent managers of capital, also held substantial positions in Moderna.

Why do these large institutional fiduciaries so often invest in companies with little to no earnings history and at valuation ratios entirely unsupported by historical precedents?

Is this truly honoring their fiduciary duty “to protect and grow their clients’ capital responsibly”?

And where are the regulators in holding these institutions accountable?

  1. What compelling reasons did they have to buy it at $400, or $300, or $200 or $100 or even $50?
  2. Why didn’t every one of them sell it at $400, or $300, or $200 or $100 or even $50?
  3. What data did they have to indicate that MRNA was suitable for fiduciary accounts?
  4. Did those institutions know MRNA’s financial condition and its valuation metrics on 8/9/2021?
  5. Did they have ANY statistical evidence indicated it had a “high probability of rising”?
  6. Did they know, or should they have known, that no company in history with a market capitalization as high as $195 billion and annual revenues as low as $6.2 billion has ever achieved significant market cap growth in the following 1, 3, or 5 years?
  7. What matters most: Did they have clear evidence that MRNA’s stock was suitable for fiduciary accounts with a conservative or modest risk-taking ability?

Moderna’s price on August 9, 2021 was $484.47.
Today, it traded as low as $32.03 – a loss of 93%.

Equity Risk Sciences has 9 proprietary ratings.
On August 9, 2021, all of ERS’s ratings were extremely negative.

For more information, please contact Ray Mullaney, CEO:
(203) 254 0000
(401) 450-4040
(617) 684-3900

Ray@ERS.ai