Why BioNTech Stock Dropped 12.4% in February

Shares of BioNTech SE (NASDAQ: BNTX) fell 12.4% in February, according to data provided by S&P Global Market Intelligence. The stock closed at $172.08 on Jan. 31 then opened on Feb. 1 at more than $10 a share higher at $182.18. BioNTech hit its lowest point in the month on Feb. 24 at $138.57. The stock has a 52-week low of $90.29 and a 52-week high of $464. Over the past 12 months, the stock is up more than 43%.

The good news regarding the drop in COVID-19 cases around the country is being perceived as bad news for BioNTech, whose Comirnaty COVID-19 vaccine it developed with Pfizer has sent the company to record revenue and profits in 2021.

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Source Fool.com