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Why Novavax Stock Is Slipping Today

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) were slipping 2.8% lower at 11 a.m. EDT on Friday. The company announced earlier in the day that it has filed for provisional approval of its COVID-19 vaccine NVX-CoV2373 in Australia.

Why would the vaccine stock fall on what should be viewed as good news? It wasn't the only news of the day.

Politico published an article Friday morning that was highly critical of Novavax's efforts to develop NVX-CoV2373. The article stated that Novavax's "manufacturing problems have left global distributors without enough shots for poor and middle-income countries."

Source Fool.com

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