Why These COVID-19 Vaccine Stocks Soared Today

The COVID-19 vaccine space was on fire today. As of the market close Monday, shares of Inovio Pharmaceuticals (NASDAQ: INO) were up by 9.6%, while Moderna (NASDAQ: MRNA) rose 10.3%. Novavax (NASDAQ: NVAX), meanwhile, blasted higher by a jaw-dropping 24.7%, and VBI Vaccines (NASDAQ: VBIV) posted a comparable 24.2% gain.

Although none of these companies released an update on their COVID-19 vaccine program today, investors appear to be piling into the group as a whole ahead of the first batch of trial data slated to emerge within the next month or so. The first company to develop a viable COVID-19 vaccine should enjoy an enormous financial windfall after all.

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Source Fool.com