Why These Coronavirus Vaccine Stocks Crashed in September
Shares of coronavirus vaccine hopefuls CureVac (NASDAQ: CVAC), Altimmune (NASDAQ: ALT), and VBI Vaccines (NASDAQ: VBIV) each fell more than 15% in September, according to data provided by S&P Global Market Intelligence. That was much worse than the S&P 500, which only lost 3.9% for the month. Shares of recent IPO CureVac were down 15.5% for the month. Altimmune's shares fell a slightly steeper 21.8%, and VBI's shares fared the worst, tumbling 32.9%.
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The world of small biotech stocks is always volatile, but when those biotechs are working on a coronavirus vaccine, their shares tend to react not only to news about their own vaccine development efforts, but to every piece of news about other companies' coronavirus vaccine development efforts.
Source Fool.com
