Why BioNTech Dived on Tuesday

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Top coronavirus stock BioNTech (NASDAQ: BNTX) closed 5.5% lower on Tuesday. This was an unusual move for a company that has been wildly successful and, therefore, extremely popular on the exchange. But some potentially alarming coronavirus news coming from Europe seems to be dampening sentiment on the company.

A new, faster-spreading variant of the coronavirus has been detected in the U.K. following a surge in cases in its Southeast. This has stoked dark fears of a strain able to resist the current crop of vaccines being approved, which happens to be led by BioNTech and Pfizer‘s (NYSE: PFE) BNT162b2.

Image source: Getty Images.

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