Why Novavax Stock Got Pummeled Today
We should spare a thought for poor Novavax (NASDAQ: NVAX) which, despite notable success with its coronavirus vaccine Nuvaxovid, has generally not received much love from investors. That dynamic was very much in evidence on Wednesday when market participants drove the vaccine specialist's price down by over 6% on a day when the S&P 500 index fell by a relatively light 0.8%.
Wednesday was generally a good day in the fight against the coronavirus, but it wasn't a good day for Novavax.
The main downer for the biotech was the Food and Drug Administration's granting of Emergency Use Authorization (EUA) for bivalent boosters of both Moderna's Spikevax and Pfizer/BioNTech's Comirnaty.
Source Fool.com
