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Wajeeh Khan

BNTX Stock News: BioNTech Announces Layoffs as Covid-19 Revenue Slides

BioNTech BNTX Covid-19

BioNTech (BNTX) stock was under pressure on May 5 after the multinational announced plans to eliminate up to 1,860 roles as it continues to grapple with declining COVID-19 vaccine sales.

The selloff saw BNTX slip below its 50-day moving average (MA) on Tuesday, signaling downward momentum could sustain in the near term. 

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