Why Pfizer, BioNTech, Moderna, and Novavax Stocks Are Sliding Today
This week has started off badly for several COVID-19 vaccine stocks. Shares of Pfizer (NYSE: PFE) were sliding 3.9% as of 10:57 a.m. ET on Monday. Pfizer's partner, BioNTech (NASDAQ: BNTX), was getting hit even harder with its stock falling 8.3%. Shares of rival Moderna (NASDAQ: MRNA) were sinking 12.24%. Novavax (NASDAQ: NVAX) shares were slipping 8.6%.
Why were these vaccine stocks declining? The sell-off appears to be related to the news on Friday afternoon that Pfizer and BioNTech were extending their rolling submission to the U.S. Food and Drug Administration (FDA) seeking Emergency Use Authorization (EUA) for their COVID-19 vaccine in children ages 6 months through 4 years.
Image source: Getty Images.
Source Fool.com
