Vaccine-Tied Stocks Flail After U.K. Clears Pfizer-BioNTech Shot
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Vaccine developers were whiplashed in U.S. trading Wednesday after the U.K. became the first Western country to clear a preventative shot for Covid-19, sending its makers Pfizer Inc. and BioNTech SE higher.
Some on Wall Street have been warning of more volatility for vaccine stocks as gains in several biotechnology names stretch beyond analyst models and appear to be driven less by fundamentals and more by enthusiastic daytraders. Small-cap vaccine contenders like Arcturus Therapeutics Holdings Inc. and Inovio Pharmaceuticals Inc. fell as much as 6% and 6.7% respectively.