Moderna was a giga-cash-generating hyper-growth stock in the COVID years, and they banked a lot of moolah at that time. Since then though, the losses have grown steep, and while Moderna has an exciting pipeline of drugs in development, they don't expect to get back to break-even in the immediate future.

Their stock has fallen and fallen and fallen again - recently breaking beneath a level of support to fall some more, as the USA administration has grown somewhat hostile to vaccines, even as the company has made good progress on their pipeline.

Yahoo reports their tangible book value was $10.8 billion as of last reporting, and with the latest drops in the stock, their reported market cap is $10.5 billion.

Analysis of their prospects is complicated by a complex net of lawsuits, both by Moderna vs competition and vice versa.

They do have exciting technology and prospects. I bought the stock a couple years ago as a mix of value and story, back when the cash was flooding in but the market was discounting the stock heavily for the end of the COVID emergency, and I've lost my butt on it so far. With the stock now trading in the vicinity of book value, I wonder if we're near the bottom, but I don't see any signs of a bottom just yet.

As a story stock with previously demonstrated potential for hyper-growth and immense profits, the upside could be tremendous, but, if the legal story turns hard against them, the downside could also be quite brutal.

Anyone have any thoughts? Probably belongs in the 'too hard' pile.