Why Novavax, BioNTech, and Moderna Stocks Are Jumping This Week
Shares of several top COVID-19 vaccine developers were soaring this week. Novavax (NASDAQ: NVAX) was the biggest winner. The stock was jumping 16.9% for the week as of the market close on Thursday, according to data from S&P Global Market Intelligence. Shares of BioNTech (NASDAQ: BNTX) were up 9.8% for the week. Moderna (NASDAQ: MRNA) stock was rising 9.4%.
There was one common denominator behind the gains for these vaccine stocks: concerns about the Omicron variant. Omicron caused record daily cases of COVID-19 in the United Kingdom. Health officials in the country called the Omicron variant the "most significant threat" since the beginning of the pandemic. The strain continues to spread in the U.S. and elsewhere.
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