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Why Novavax Stock Is Sinking This Week

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) were sinking 15.1% this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The only news from the company in recent days was an announcement that its CEO, Stanley Erck, will participate in the virtual J. P. Morgan Healthcare Conference on Jan. 10.

This obviously wasn't the reason behind the vaccine stock declining so much. Instead, investors seem to be less enthusiastic about Novavax's prospects. This lower optimism likely is the result of anticipation that the current surge in COVID-19 cases due to the omicron variant could be the beginning of the end of the pandemic.

Image source: Getty Images.

Source Fool.com

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