Why Pfizer, BioNTech, and Novavax Stocks Are Sinking Today

Several leading coronavirus vaccine stocks were sinking today after Moderna (NASDAQ: MRNA) announced interim efficacy results for its COVID-19 vaccine candidate mRNA-1273. Shares of Pfizer (NYSE: PFE) were down 3.9% as of 11:19 a.m. EST on Monday. Meanwhile, BioNTech (NASDAQ: BNTX) and Novavax (NASDAQ: NVAX) stocks were falling 13.2% and 10.6%, respectively.

Investors seem to be viewing the coronavirus vaccine market as a zero-sum game where some vaccines lose when another vaccine wins. That's likely a faulty premise, though. 

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Source Fool.com