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The Reasons Behind the Surge in Novavax Stock Today

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Novavax, Inc. (NVAX) experienced a significant increase in stock trading on Tuesday as a result of the surge in COVID-19 cases in the US, which has positively influenced vaccine stocks in recent weeks.

Key Points to Consider:

Since the beginning of this month, Novavax shares have seen a rise of more than 20%. This is mainly attributed to the spike in hospitalizations and deaths observed in August due to the latest wave of COVID-19 infections.

The EG.5 variant currently remains dominant among the new cases reported in the US. While a new highly mutated strain called BA.2.86 is also being closely monitored, its prevalence has been relatively insignificant.

Thus far, COVID tests have proven to be effective against these variants. However, it remains uncertain if any particular strain will become more widespread. Additionally, while boosters introduced in the fall of 2023 appear to be effective against new variants, their compatibility with the mutations of BA.2.86 remains undetermined.

For more information, see the related article: β€œWhat’s Happening with Zoom Stock?”

NVAX Stock Performance:

According to Benzinga Pro, shares of Novavax, Inc. (NVAX) closed 10.23% higher at $9.25.

Image by fernando zhiminaicela from Pixabay

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