Novavax Faces 1 Major Risk Right Now. Should You Buy the Stock Anyway?
Novavax (NASDAQ: NVAX) started the coronavirus vaccine race as a favorite. The company's shares even soared more than 2,700% last year. But the tide has turned for the biotech company. The problem? Manufacturing issues have delayed Novavax's submission for emergency authorization in the U.S. and other countries. As a result, the shares have given back a large percentage of this year's gain.
But things worsened in recent days. A news report suggested Novavax's delays may not be over. The stock sank nearly 15% in one trading session. Even before that decline, the shares were trading below Wall Street's most pessimistic 12-month share price forecast.
As you might be guessing right now, the biggest risk Novavax faces is this: missing its latest goal to apply for authorization in the U.S., Europe, and other areas by the end of the year. That kind of news could crush the stock. Does this mean you should flee Novavax shares -- or use recent declines as a buying opportunity?
Source Fool.com
