Why in the World Is Novavax Stock Up 4,000%?
Novavax (NASDAQ: NVAX) started off 2020 as a micro-cap. It was trading at $4 a share, and its market capitalization was barely over $100 million. The stock had dropped all the way down to penny-stock land. The biotech had no profits and no FDA-approved drugs. Most investors had given up on the stock. But there were reasons to be bullish.
This tiny company had arguably the best flu vaccine in the world, NanoFlu. The drug was in the middle of phase 3 trials, and it had won all its head-to-head competitions against the market-leading flu vaccines from Sanofi (NASDAQ: SNY). In March, when Novavax reported positive news in its phase 3 trial for NanoFlu, the stock jumped up to $14 a share.
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Source Fool.com
