Why BioNTech, Dynavax, Novavax, and Pfizer Stocks Are Jumping Today
Shares of several COVID-19 vaccine companies were jumping as of 11:43 a.m. ET on Monday. BioNTech (NASDAQ: BNTX) was the biggest mover, with its shares soaring 14.7%. Dynavax Technologies (NASDAQ: DVAX) was vaulting 5.9% higher. Novavax (NASDAQ: NVAX) stock was up 5.2%. Even shares of pharmaceutical giant Pfizer (NYSE: PFE) were rising 4.3%.
Of the four companies, only Pfizer announced any news today. The company stated that it will continue to supply medicines to Russia. However, Pfizer plans to donate all profits made by its Russian subsidiary to "causes that provide direct humanitarian support to the people of Ukraine."
This update on Pfizer's position in Russia wasn't the reason for its stock gains. Instead, all four vaccine stocks rallied as part of an overall bounce for the stock market. Lower oil prices appear to be fueling the broader market move.
Source Fool.com
