Why Novavax Stock Is Tumbling Today
Shares of Novavax (NASDAQ: NVAX) were tumbling 9.7% as of 11:28 a.m. ET on Tuesday. The company didn't make any announcements that would explain the decline. Instead, Novavax's fall appears to be primarily a result of the overall stock market turmoil with all of the major market indexes sinking today.
It's usually difficult for any stock to overcome the downdraft of the broader market. That's especially the case for Novavax. Shares of the vaccine stock were already down more than 80% from the 52-week high even before today's sell-off.
Novavax's risks go beyond the worries about inflation and rising interest rates that are hurting the stock market. There's considerable uncertainty about the future demand for COVID-19 vaccines, especially with a supply glut in some parts of the world.
Source Fool.com
