Novavax Missed Q1 Estimates By a Mile: Should Investors Worry?
By all counts, this should be Novavax's (NASDAQ: NVAX) year. The company's NVX-CoV2373 COVID-19 vaccine is now on the market in multiple countries. Novavax could be close to winning a long-awaited U.S. Emergency Use Authorization (EUA) for its vaccine.
With all of that in mind, investors were hopeful that the company's first-quarter results announced after the market closed on Monday would provide a nice catalyst. Unfortunately, that didn't happen. The vaccine stock plunged in after-hours trading after Novavax missed Wall Street's Q1 estimates by a mile. Should investors be worried?
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Source Fool.com
