Why Novavax Stock Is Slipping Today – Yahoo Finance
Shares of Novavax(NASDAQ: NVAX) were slipping 6% lower as of 10:57 a.m. EDT on Tuesday. The biotech hadn’t announced any news that would cause the decline. Instead, today’s move appears to be a continuation of the sell-off that began in mid-August.
Why has the biotech stock been on a downward trajectory for several weeks? Probably because a sizable number of investors decided to take profits off the table. After all, Novavax’s share price skyrocketed nearly 4,400% in ea…