Novavax (NVAX) Stock May Consolidate Here Before Making Any Big Move

There continues to be a lot of interest in stocks of companies that are working on COVID 19 vaccines and one of those is Novavax (NASDAQ:NVAX).

Novavax (NVAX) Stock May Consolidate Here Before Making Any Big Move

Recently, the company revealed that instead of filing for Emergency Use Authorization for its vaccine in the 2nd quarter of 2021, as previously announced, Novavax is going to file it in Q3 2021. This past weekend, Motley Fool contributors Brian Orelli and Keith Speiths discussed the situation with Novavax during a chat.

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While it may seem like a setback, Orelli said that is really is not the case since Novavax already has a contract in place with the United States. The delay is not going to have much of a bearing since Novavax is going to be paid irrespective of when they actually deliver the vaccine doses. Moreover, there was no possibility of expanding the size of the order and hence, there is no notional loss either for Novavax.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.