After Double-Digit Percentage Declines, Are Vaccine Stocks Buys?
Vaccine stocks scored big wins for many investors during the earlier stages of the pandemic. But so far this year, they've done just the opposite. Leaders Moderna (NASDAQ: MRNA), Pfizer (NYSE: PFE), and BioNTech (NASDAQ: BNTX) all have dropped by percentages in the double digits. And Novavax (NASDAQ: NVAX) -- which surged the most back in 2020, but which was late past the regulatory finish line -- has declined 75% year to date.
At the same time, the pandemic continues, and these companies are all guiding for billions of dollars in revenues this year. So for investors, the question is: Are vaccine stocks a buy at these levels?
First, it's important to understand why vaccine stocks fell. It doesn't have anything to do with the effectiveness of the companies' vaccines, the revenue they've reported so far -- or even this year's sales forecasts.
Source Fool.com
