Why Pfizer, Novavax, and Ocugen Stocks Are Sinking Today
Shares of several COVID-19 vaccine makers were sinking as of 11:38 a.m. ET on Tuesday. Pfizer (NYSE: PFE) stock was down 3.2%. Shares of Novavax (NASDAQ: NVAX) and Ocugen (NASDAQ: OCGN) were 4.6% and 6.8% lower, respectively.
You might think that these vaccine stocks would move higher with the reports of dramatic increases in COVID-19 cases and hospitalizations throughout much of the U.S. due to the omicron variant. Some of the companies have even had good news in recent days. Pfizer, for example, received an expanded Emergency Use Authorization (EUA) for boosters of its COVID-19 vaccine in children ages 12 through 15 on Monday.
However, investors are looking beyond the current environment, and they're envisioning a not-too-distant future where the pandemic is over and vaccines don't enjoy the high demand that they have now.
Source Fool.com
