Why BioNTech Stock Crushed the Market Today

Shares of top coronavirus stock BioNTech (BNTX 5.23%) nicely bucked the general downward trend of the market on Monday. The Germany-based biotech's stock closed more than 5% higher on the day, against the 0.6% rise of the S&P 500 index.

A continued rise in coronavirus cases kept investors interested, but a stronger catalyst was the launch of a stock repurchase program.