Concerns over a novel coronavirus strain in South Africa, which is thought to contain numerous alterations, led to rises in COVID-19 vaccination stocks on Friday.
Stocks such as Pfizer, BioNTech, Moderna, Inovio Pharmaceuticals, Novavax, Vir Biotechnology, and others have risen as concerns about the variant's potential ability to evade current vaccines have been raised.
Pfizer's stock increased by 6%. Moderna increased by 23%. Inovio's stock increased by more than 8%, while Novavax's stock increased by more than 9%. Vir increased by 16%. Meanwhile, in early trading, the Dow Jones Industrial Average fell more than 2% or 850 points.
BioNTech said it expects further information on the new variation in the next two weeks, and that if necessary, it can rebuild the vaccine in six weeks and produce batches in 100 days.
Lockdown restrictions have already been reintroduced in certain European countries, with new cases on the rise.
Furthermore, while some commenters have labeled the mutation as the "most alarming" so far, it's crucial to remember that little is known about it at this time, with scientists still trying to figure out what it means.
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