Why BioNTech Stock Surged Today
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Shares of BioNTech (NASDAQ: BNTX) were surging 6.7% higher as of 3:22 p.m. ET on Thursday. There wasn't a clear catalyst for the solid gain. However, two factors likely contributed to BioNTech's performance.
The stock market bounced back somewhat after a big sell-off on Wednesday, with Nasdaq stocks leading the way. Also, investors appear to be more optimistic about BioNTech's prospects following Tuesday's announcement of U.S. Emergency Use Authorization (EUA) for a booster dose of its COVID-19 vaccine in kids ages 5 to 11.
Today's move higher for the biotech stock could be more noise than anything else. It remains to be seen if BioNTech can keep the momentum going.
Source Fool.com
