It's every shareholder's dream.

You invest your money in a company that hardly makes any sales, is dealing with losses and on which hardly anyone else puts a damn.

The share is correspondingly cheap.

12 euros, for example, in the case of the Mainz-based biotech company Biontech in 2019. In those October days a good two years ago, nobody thought about Corona and accordingly not about buying Biontech shares.

Daniel Mohr

Editor in the economy of the Frankfurter Allgemeine Sunday newspaper.

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And then, less than two years later, the share is worth almost 400 euros because a company product protects the world from the disaster of the corona pandemic. Many people now want to be part of the dream. Biontech has been the favorite stock of Germans since April 2021. At least if you take the trading turnover of the leading German private investor exchange Tradegate from Berlin as a benchmark. But the Biontech share is also in great demand among private investors on the Stuttgart Stock Exchange and on the Frankfurt trading floor. No share was traded by German investors as often as that of Biontech. An incredible 30.7 billion euros in trade turnover came together on Tradegate in 2021 alone, as can be seen from a compilation for the FAS.Tesla in second place of the most traded values ​​comes to just 9 billion euros, the first Dax value with VW comes in 6th place with 6 billion euros trading turnover.

Uncertain future

The attitude of investors towards Biontech is ambivalent.

A purchase volume of 15.5 billion euros is offset by a sales volume of 15.2 billion euros.

It goes back and forth like the stock price.

The share is currently around 190 euros and is far away from the highs of around 400 euros.

The Boersennews.de forum contains more than 570,000 discussion posts on Biontech.

The popular Dax value Daimler comes to just 118,000, BASF to 27,000.

No wonder, because hardly any other company is as uncertain as Biontech. In 2020, the company still made losses with low sales. In 2021, on the other hand, "An der Goldgrube 12" in Mainz probably made a profit of more than ten billion euros and the city's finances were reorganized in one go with the trade taxes. But does this continue? Will the vaccine still be needed in 2025? Or have other manufacturers won the race for a long time? Or is there no longer a need for a corona vaccine because the virus has disappeared or medication makes vaccination unnecessary? What is a company worth with such an uncertain future? 17 billion euros like a year ago, when it was still unclear how big the triumph of the Biontech vaccine would be? 3 billion euros as in autumn 2019,when there were at best vague hopes for a breakthrough in cancer research? Or rather the almost 100 billion euros that were allocated to the company in August 2021?

tradition of speculation

Recently, the share price has come under considerable pressure.

The market value is currently 37 billion euros, which corresponds to a price-earnings ratio of 3.7 with annual profits of 10 billion euros.

An incredibly cheap value, as stockbrokers know.

The market average is perhaps 15. For particularly promising stocks, it can also be 50 or 80.

But less than 5?

Even with the analysts’ somewhat more cautious earnings estimates for 2022, the P/E ratio is still sensationally low at 5.8.

This is a clear buy.

If, yes, if the corporate profit will solidify at least at the current level in the future.

Then the share would easily be worth almost 100 billion euros from the summer, or even 150 or 200 billion euros.