Why Novavax Stock Jumped Today While the Market Crashed
Shares of Novavax (NASDAQ: NVAX) were jumping 10.4% higher as of 3:45 p.m. EDT on Wednesday after rising as much as 20.8% earlier in the day. How did Novavax stock perform so well while the overall stock market crashed yet again due to increasing worries about the coronavirus pandemic?
Investors appear to be optimistic about the prospects for Novavax to report positive results from its late-stage study of experimental flu vaccine NanoFlu. It also helps that the company is one of several drugmakers scrambling to test experimental COVID-19 vaccines.
Image source: Getty Images.
Source Fool.com
