Why Novavax Stock Is Slipping Today

Shares of Novavax (NASDAQ: NVAX) were slipping 2.6% lower as of 11:35 a.m. ET on Wednesday. The company didn't report any new developments since yesterday's announcement that India had granted Emergency Use Authorization (EUA) to COVID-19 vaccine NVX-CoV2373.

Today's decline appears to be a continuation of a downward trend that began last week. The slide was the result of waning concerns about the severity of the coronavirus omicron variant and waxing concerns that Novavax won't complete its filing for U.S. EUA of its COVID-19 vaccine by year end.

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Source Fool.com