Why Novavax Shares Are Soaring Today
Shares of Novavax (NASDAQ: NVAX) were soaring 12.1% higher as of 11:14 a.m. EDT on Monday. The biotech didn't announce any new developments today or over the weekend. However, the most likely reason behind the stock's surge is the news that's on the way: Novavax will provide its first-quarter update after the market closes today.
To be sure, investors probably aren't champing at the bit to find out Novavax's first-quarter financial results. The company doesn't have any products on the market yet, so its financials usually aren't all that meaningful -- other than its cash position. However, there are two things that investors are almost certainly eager to learn about in Novavax's Q1 conference call this evening.
Image source: Getty Images.
Source Fool.com
