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Why Novavax Stock Dropped This Week

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) dropped 12.7% this week as of the market close on Thursday. The primary reason behind this decline appears to be increasing concerns about the rise of coronavirus variants, especially the highly contagious delta variant.

It would make sense for vaccine stocks to sink if there were reason to believe that they don't work against new coronavirus variants. However, there hasn't been any data thus far about how Novavax's NVX-Cov2373 vaccine fares against the delta variant, the most concerning of the emerging variants.

Image source: Getty Images.

Source Fool.com

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