BioNTech Shares Rose Sharply on Monday
BioNTech is back with a price jump – that’s what’s behind it
Vaccine manufacturer shares rose sharply on Monday. The BioNTech share in particular recorded a particularly strong price increase. The paper went up 12 percent to $ 151.92 from US trading. The main reason for the comeback of vaccine stocks can be found in China. In China, the worst corona outbreak in two years is spreading. According to official information on Tuesday, 5,154 new infections were registered nationwide the day before…
Arguably, the main reason for the comeback in vaccine stocks can be found in China. In China, the worst corona outbreak in two years is spreading. According to official information on Tuesday, 5,154 new infections were registered nationwide the day before, setting a new high in the current wave. New infections have been reported from 20 regions across the country, with northeast China’s Jilin province, where 4,067 new infections were detected, remaining the hardest hit. The capital Beijing and the two important economic centers Shanghai and Shenzhen also reported new infections.
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Both Shenzhen and Changchun, the provincial capital of Jilin, are currently in lockdown, which is also affecting the economy. In Changchun, Volkswagen had to temporarily suspend operations at three plants operated jointly with Chinese partner FAW on Monday. In Shenzhen, the Apple supplier Foxconn stopped production at its manufacturing facility.
China is pursuing a strict zero-Covid strategy, responding to local outbreaks with lockdowns, mass testing, transport restrictions and quarantines. The country has also largely isolated itself.
Even if one cannot assume that millions of Chinese will now be calling for BioNTech’s vaccine. The country primarily relies on its own vaccines. However, the fear is increasing that the topic of Corona could boil up again in other countries. Investors remain invested in BioNTech shares. However, the further pipeline beyond Corona is increasingly coming into focus for the share. If the company can convince here, the share should be listed significantly higher in the medium term.
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