Home News Covid-19

Some Asian investors may have exited vaccine stock prematurely

Bloomberg11/13/2020 07:43 PM GMT+08  • 2 min read
Some Asian investors may have exited vaccine stock prematurely
This may be a trade to regret.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

This may be a trade to regret.

Asian investors exited BioNTech SE stock at a faster pace than the rest of the world in October, according to a TD Ameritrade Singapore report published Thursday.

While buying activity was similar last month, “TD Ameritrade’s Asia region clients differed a bit more from the total population on the sell side, with popular sells in the region including DAL (Delta Airlines), BNTX (BioNTech) and TWTR (Twitter),” the report said.

BioNTech’s American depositary receipts jumped 14% on Monday on news that a coronavirus vaccine it’s developing with Pfizer Inc. appeared to be effective in preliminary results that sent the entire market into an optimistic frenzy. ADRs of the Mainz, Germany-based company are up 19% in November.

To be sure, there’s still a long way to go before a vaccine is available. It needs deep-freeze technology and there are competitors like Moderna Inc. -- so BioNTech stock could yet prove vulnerable after its strong runup. The ADRs were up 105% in the year through Sept. 30, so anyone selling may have still made a decent profit.

But that November runup is looking pretty formidable. And there could be more than a few investors in Asia looking back on that October sale in dismay.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.