Why Pfizer, BioNTech, and Moderna Stocks Are Sinking Today
Shares of the top COVID-19 vaccine makers were sinking on Thursday. Pfizer (NYSE: PFE) stock was down 2% at 11:06 a.m. ET. Shares of Pfizer's partner, BioNTech (NASDAQ: BNTX), were down 6.1%. Moderna's (NASDAQ: MRNA) shares had tumbled 6.8% lower.
But the three companies actually had good news. On Wednesday, a U.S. Food and Drug Administration (FDA) advisory committee voted unanimously to recommend Emergency Use Authorization (EUA) for the COVID-19 vaccines in young children -- ages 6 months to 4 years for the Pfizer-BioNTech vaccine and ages 6 months to 5 years for the Moderna vaccine.
So why are the vaccine stocks falling? Blame it on the overall market. All the major stock indexes were down sharply as investors worried about the economy.
Source Fool.com
