Could Novavax Be a Millionaire-Maker Stock?
Novavax (NASDAQ: NVAX) has been around for a long time. The company had its IPO on Dec. 11, 1995. It opened at a (split-adjusted) price of $85 a share. Almost six years later, on Oct. 3, 2001, the stock hit its all-time high, at a (split-adjusted) price of $300 a share. Now the stock sits at just $4.31 a share. Imagine the unhappy investor out there who's sitting on losses of almost 99%. Novavax has caused a lot of financial agony to plenty of people.
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This year, the stock has dropped all the way down to a micro-cap, valued at $106 million by the market. Earlier this year, Novavax had to do a 20-for-1 reverse split in order to keep its shares trading on the Nasdaq. More than 20% of its float is sold short.
Source Fool.com
