Is Novavax Stock a Buy With the New Normal for COVID?
Investors have to do plenty of hard things. I think one of the hardest is to adjust our thinking to account for changing dynamics. For example, consider how the rapid adoption of the internet and the launch of the iPhone caused shifts that left some investors in the cold.
That leads me to Novavax (NASDAQ: NVAX). I was a vocal cheerleader for the vaccine stock earlier in the COVID-19 pandemic. My view was that the company had a big opportunity with an alternative to the messenger RNA (mRNA) vaccines from Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA). I didn't think Novavax's market cap fully reflected this opportunity.
For a while, my take seemed to be right. Novavax's shares skyrocketed. But the sizzle fizzled over time. Why? The underlying dynamics for the COVID-19 vaccine market changed. I fully expect that other changes are on the way that will shake things up even more. Because of this, an adjustment of thinking is needed. Is Novavax stock a buy in the new circumstances?
Source Fool.com
