Why BioNTech, Moderna, and Novavax Stocks Are Sinking Today
Several COVID-19 vaccine makers got off to a rocky start this week. Shares of BioNTech (NASDAQ: BNTX) were sinking 8.2% as of 12:27 p.m. ET on Monday. Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) stocks were down 5.3% and 6.4%, respectively.
Often when these three vaccine stocks fall on the same day, it's because of the same story. That's not the case this time, though. There are different reasons behind each of these stocks sliding today.
Investors appear to be concerned about BioNTech because of talks stalling over Taiwan's purchase of its COVID-19 vaccine for pediatric use. The problem is that BioNTech and its partner, Chinese drugmaker Fosun, own the marketing rights to the Taiwan market. However, BioNTech's other partner, Pfizer, makes the COVID-19 vaccine for children.
Source Fool.com
