After Dropping 40%, Is Novavax a Buy?
Novavax (NASDAQ: NVAX) soared a jaw-dropping 7,900% from the start of 2020 through its peak last February. That's as investors bet on the ability of its coronavirus vaccine candidate to deliver billions of dollars in revenue. But when Novavax postponed its submission for regulatory authorization more than once, some investors reined in their excitement. By the end of last year, the stock had retreated 55% from its high.
Today, Novavax's situation has changed dramatically. The company has won authorization for its vaccine in more than 30 countries over the past few months. And Novavax recently submitted complete data to support Emergency Use Authorization in the U.S. It aims to make the official request any day now. Yet the stock still is suffering. It lost about 40% in January. Now, the question is whether, after that decline, this vaccine latecomer is a buy right now...
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Source Fool.com
