Why Novavax Stock Traded Higher Today
Portfolio Pulse from Ryan Gustafson
Shares of Novavax, Inc. (NASDAQ:NVAX) traded higher amid rising COVID-19 cases in the US, which has lifted vaccine stocks recently. Novavax shares have risen over 20% since the beginning of the month, tied to rising hospitalization and death levels due to a new COVID-19 wave. The effectiveness of COVID tests against new variants and the potential match of 2023 boosters for BA.2.86's mutations remain uncertain.
September 05, 2023 | 8:36 pm
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POSITIVE IMPACT
Novavax shares have been positively impacted by the rise in COVID-19 cases, with a 20% increase since the start of the month. Uncertainty remains regarding the effectiveness of tests and boosters against new variants.
The rise in COVID-19 cases has led to an increase in demand for vaccines, positively impacting Novavax's stock. However, uncertainty regarding the effectiveness of tests and boosters against new variants could potentially impact the stock in the future.
CONFIDENCE 90
IMPORTANCE 80
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