Covid fears can still in­spire big mar­ket ral­lies for the mR­NA pi­o­neers — and fast fiz­zles

Covid made some bio­phar­mas. Covid is killing some bio­phar­mas. And de­spite the rapid crash and fall of the Omi­cron tsuna­mi in the US, Covid can still shake up mar­kets with all kinds of in­stant frothy ex­cess.

This morn­ing we got a look at the froth that can be stirred as fast as a gin fizz when it comes to Covid news. Shares of both Mod­er­na $MR­NA and BioN­Tech $BN­TX, which each still have siz­able mar­ket caps de­spite a freefall in re­cent months, soared on Mon­day morn­ing. Even though they aren’t like­ly to pick up much in terms of ex­tra sales in Chi­na, news of a big Covid spike in the coun­try trig­gered a spark of that old mar­ket mag­ic that once buoyed the in­dus­try.

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