PFE

Pfizer, Inc.

53.91
USD
-0.15%
53.91
USD
-0.15%
38.48 61.71
52 weeks
52 weeks

Mkt Cap 300.72B

Shares Out 5.58B

Chat
Send me real-time posts from this site at my email

Why Moderna, Novavax And Other Vaccine Stocks Are Extending Losses Today

COVID-19 vaccine stocks are all retreating sharply for a second day running on Friday. The U.S. Supreme Court on Thursday ruled against President Joe Biden's quest to make it mandatory for large businesses employing over 100 people to have their staff vaccinated and undergo weekly testing. The mandate is a significant encroachment on the lives and health of a vast number of employers, the court said. The court, however, permitted the vaccine mandate for health care workers in facilities which receive government funding. President Biden expressed disappointment at the verdict and said "he was disappointed that the Supreme Court has chosen to block common-sense life-saving requirements for employees at large businesses that were grounded squarely in both science and the law." Novavax, Inc. (NASDAQ: NVAX), specifically, has been the hardest hit, given the delay in getting authorization for its COVID-19 vaccine in the U.S. and Europe. Investors are also worried about how far out the vaccine windfall can support these companies. With the omicron variant proving to be highly infectious, there is a view among the scientific community, herd immunity could soon be reached, bringing the pandemic to an end. At last check, Moderna, Inc. (NASDAQ: MRNA) shares were down 2.36% at $205.20. BioNTech SE (NASDAQ: BNTX) was slipping 2.01% at $198.90. Pfizer, Inc. (NASDAQ: PFE) shares were moving down 0.48% to $55.27. Novavax was plunging 7.84% to $103.57. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue