Why BioNTech Stock Is Bouncing Back Today

Shares of BioNTech (NASDAQ: BNTX) were jumping 8.4% as of 11:45 a.m. EST on Monday. The company didn't report any new developments today or over the weekend, though, that could have served as a catalyst. Instead, some investors appear to believe that BioNTech's sell-off last week went too far.

The vaccine stock certainly hit a rough patch in recent days. BioNTech's shares fell 22% last week. Most of the decline came after Pfizer (NYSE: PFE) announced great results from a clinical study of its experimental COVID-19 pill.

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Source Fool.com