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Why Novavax Stock Is Slipping Today

TheMotleyFool

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Why Novavax Stock Is Slipping TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Novavax (NASDAQ: NVAX) were slipping 6% lower as of 10:57 a.m. EDT on Tuesday. The biotech hadn't announced any news that would cause the decline. Instead, today's move appears to be a continuation of the sell-off that began in mid-August.

Why has the biotech stock been on a downward trajectory for several weeks? Probably because a sizable number of investors decided to take profits off the table. After all, Novavax's share price skyrocketed nearly 4,400% in early August.

Image source: Getty Images.

Source Fool.com

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