Vaccine Stocks Are Rising, but This Biotech Is Monday's Big Nasdaq Winner
The stock market looked poised to dip to begin Monday morning's trading session, with futures on major indexes significantly lower. Most investors seemed to expect a down opening of around 1% to 2%, with futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) falling 215 points to 15,573 as of 8:30 a.m. ET.
Many market participants attributed the decline to the omicron coronavirus variant, which has resulted in a new surge of COVID-19 cases in many areas of the world. In response, vaccine stocks were among the best early performers on the Nasdaq, as investors reacted to news of likely approvals of as many tools to fight the disease as possible. However, none of the vaccine stocks rose as much as one biotech company that had some good news beyond the COVID-19 realm. Below, we'll look more closely at how key stocks like Novavax (NASDAQ: NVAX) and Moderna (NASDAQ: MRNA) were faring and then turn our attention to Monday morning's big Nasdaq winner.
It was evident that investors were excited about the prospects for companies making COVID-19 vaccines. Novavax built on strong gains from last week, with its shares rising more than 10% in premarket trading. Moderna was up more than 7%, and the much-smaller Ocugen (NASDAQ: OCGN) enjoyed a better-than-10% gain.
Source Fool.com
