In the early days of the pandemic, investors bet Novavax (NASDAQ: NVAX) would be a coronavirus vaccine winner. The stock soared a mind-boggling 2,700% in just one year. When the biotech's vaccine candidate fell behind, though, investors lost faith.

However, Novavax's vaccine finally reached commercialization, and it recently won authorization to be used as a booster too. With its shares down almost 90% this year, you may be wondering if Novavax presents a great buying opportunity. Or should you avoid this struggling stock considering its late arrival to the vaccine scene? Let's find out whether Novavax is a buy, sell, or hold in 2023.

It's clear Novavax missed out on the height-of-the-pandemic revenue opportunity. The company's vaccine began winning authorizations in certain countries about a year ago. That's a year after leaders Pfizer and Moderna entered the market. And the U.S. only authorized Novavax's vaccine back in July.

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Source Fool.com