Is It Too Late to Buy Novavax Stock?

Early investors in COVID-19 vaccine makers Moderna and Novavax (NASDAQ: NVAX) have earned significant returns over the past couple of years, with both stocks up over 1,000% since the start of 2020 (the S&P 500 has only risen by 44% during that time frame). Novavax's 4,000% returns are astronomical even though the company's vaccine hasn't yet gotten the go-ahead from the U.S. Food and Drug Administration (FDA) -- in fact, it hasn't even filed for an Emergency Use Authorization (EUA) yet.

It's a risky stock to be holding, but the good news is investors can hedge their positions. However, if you don't already have Novavax in your portfolio, is it worth taking a chance on the stock today?

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Source Fool.com