Why BioNTech Stock Is Jumping Today

Shares of BioNTech (NASDAQ: BNTX) were jumping 10.1% higher as of 11:41 a.m. EDT on Thursday. Neither the German biotech nor its coronavirus vaccine partner Pfizer (NYSE: PFE) announced any news. Today's gain appears to be driven primarily by the overall stock market rise today, which itself was fueled by better-than-expected growth in the U.S. gross domestic product (GDP). It's also possible that many investors thought that the sell-off of BioNTech earlier this week was overdone.

A rising tide really does usually lift all boats. That's pretty much what we're seeing today with BioNTech as the stock market enjoyed a nice bump.

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Source Fool.com