Why Coronavirus Vaccine Stocks Moderna, Novavax, and Inovio Are Sinking Today
Several coronavirus vaccine stocks have slumped as of 11:20 a.m. EDT on Wednesday, dragged down by the broader market sell-off. Shares of Moderna (NASDAQ: MRNA) were 5% lower. Novavax (NASDAQ: NVAX) and Inovio Pharmaceuticals (NASDAQ: INO) were down 6.1% and 4.5%, respectively.
You might think that biotech stocks like Moderna, Novavax, and Inovio would rise instead of fall with concerns mounting about the increasing numbers of COVID-19 cases. However, it's tough for any stock to perform well when all of the major market indexes drop significantly.
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Source Fool.com
