Novavax and Sorrento Therapeutics: Are These Beaten-Down Coronavirus Stocks a Bargain?
COVID-19 stocks have been a hot commodity in 2020. Several companies with anti-coronavirus assets such as antibodies, diagnostics, and vaccines, in fact, have seen their share prices rise by more than 1,000% this year. Even though the outbreak is as strong as ever in countries like the United States, however, a fair number of these former red-hot stocks have pulled back in a big way from their 52-week highs.
This near nichewide correction appears to stem from a slew of factors including the recent approval of Eli Lilly's COVID-19 antibody drug bamlanivimab, the likely approval of Pfizer and BioNTech's mRNA COVID-19 vaccine in the coming weeks, and the lack of a second stimulus relief bill which may have provided additional funding for research and development.
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Source Fool.com
