Why Novavax Stock Dropped 23.6% This Week
Shares of biotech company Novavax (NASDAQ: NVAX) plummeted by 23.6% this week, according to data from S&P Global Market Intelligence. The stock opened on Monday at $74.98 and rose to as high as $75 on Tuesday before it began to plummet. It sunk to a new 52-week low of $56.80 in the early afternoon on Thursday.
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It's becoming clear that Novavax is falling behind its peers in its ongoing efforts to get an Emergency Use Authorization (EAU) for its COVID-19 vaccine to be used as a booster shot in the U.S.
Source Fool.com
