BioNTech Stock Plummets Over 7% Today – Here’s Why
BioNTech shares just took a nosedive—dropping more than 7% in a single trading session. Investors aren't waiting around to find out why.
Market Shockwaves
The biotech firm's sudden decline sent ripples through the sector. No major news broke, but sometimes the market moves on whispers before the headlines hit.
Speculation Station
Could be trial results, regulatory hurdles, or just profit-taking after a strong run. In biotech, bad news travels fast—and sells faster.
Finance's Fickle Nature
One day you're pandemic hero, next day you're a chart footnote. Typical Wall Street—always ready to love you at the top and leave you at the first dip.
Negative accounts
That morning, The Washington Post published an article stating that healthcare officials in the TRUMP administration were aiming to link the deaths of 25 children to coronavirus vaccines. BioNTech is a co-developer of a top vaccine, Comirnaty, aimed at preventing the disease's spread (its partner in the effort was U.S. pharmaceutical giant).
Image source: Getty Images.
Citing four unnamed people "familiar with the situation," this effort will be based on findings that were apparently filed with the federal government's Vaccine Adverse Event Reporting System. The platform contains unverified accounts of experiences and events following the administration of jabs.
The newspaper added that the government's Centers for Disease Control and Prevention (CDC) stresses that the system isn't intended to determine if any vaccine injections result in fatalities. According to the CDC, such a judgement requires significant investigation by scientific and medical professionals.
Danger of reputational damage
The Post wrote that administration officials aim to present their findings next week to a CDC advisory panel. That panel is considering recommendations for new Covid vaccines.
BioNTech might be particularly exposed in such a move, as it is a much smaller company than its big U.S. partner Pfizer. If it becomes seen as a developer of a supposedly harmful product, its reputation could suffer irreparably.
