Shares of Novavax (NASDAQ: NVAX) jumped 8.7% as of the market close on Monday. The solid gain appears to be the result of investors recognizing that the sell-off late last week was overdone.
The vaccine stock initially soared more than 30% earlier last week. However, a disappointing outlook from Moderna (NASDAQ: MRNA) and Pfizer's (NYSE: PFE) announcement of positive results for its COVID-19 pill weighed on Novavax's share price on Thursday and Friday. The stock ended the week up only 7%.
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Source Fool.com