Why Novavax Sank by Nearly 5% on Tuesday

Vaccine-specialist Novavax (NASDAQ: NVAX) wasn't inoculated against the stock market's bears on Tuesday. Investors traded the company's shares down by 4.6% on a generally good day for the market. This occurred despite Novavax announcing the hiring or promotion of several well-qualified executives.

After market hours on Monday, Novavax announced it had filled one newly created executive position and appointed two people to key roles in the company. The new job role is that of the busy-sounding senior vice president, chief safety officer, and head of global vaccine safety.

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Source Fool.com