Investors in This One Stock Had an Amazing Year
You have to be brave to make 2,900% in a year.
Novavax (NASDAQ: NVAX) started off 2020 in a deep, dark hole. That's because 2019 was a horrible year for the company. When the biotech reported disappointing results from its phase 3 trial for ResVax, a vaccine for respiratory syncytial virus (RSV) in babies, the market whacked the stock. Shares traded for pennies. Novavax's valuation fell so hard, the company had to do a 1-for-20 reverse split in order to keep trading on the Nasdaq Stock Market. By Dec. 31, 2019, the stock had fallen to $4 a share.
What a difference a year makes!
Source Fool.com