Why Moderna and Novavax Stocks Are Jumping Today
Shares of Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) were jumping 3.7% and 4.4%, respectively, as of 11:23 a.m. EDT on Thursday. Neither company reported any news. However, the gains are likely related to increasing concerns about COVID-19. The major market indexes were sinking Thursday morning after Japan declared a state of emergency for the upcoming Olympic games due to increased COVID-19 cases in Tokyo.
There's a direct connection between the fortunes of vaccine stocks and concerns about COVID-19. When worries increase, the shares of top vaccine makers tend to move higher as well. The longer COVID-19 is a serious issue, the longer the demand will continue for safe and effective vaccines.
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Source Fool.com
