Why Shares of Novavax Rose 31% Last Month
Novavax (NASDAQ: NVAX) had a busy month in April. Shares gained 30% according to S&P Global Market Intelligence. Early in the month, the stock began climbing after Johnson & Johnson's vaccine was temporarily halted. Later, President Joe Biden mentioned the company's vaccine as a likely tool in fighting the pandemic. Finally, cases around the world continue to climb, leading investors to believe there will be plenty of people who still need protection once the Novavax vaccine is available.
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Investors translated the struggles of other vaccine makers into an opportunity for Novavax. That's despite the fact that the company's drug hasn't received authorization in any country. Nor has the company released the results from its Phase 3 trial in the U.S. and Mexico. That study began in December.
Source Fool.com
