Today, one of the big movers that is grabbing a lot of attention is vaccine player Novavax (NASDAQ:NVAX). Currently, NVAX stock is up approximately 9%, surging higher on relatively average volume.
This move comes amid widespread uncertainty around vaccine stocks. Peers Moderna (NASDAQ:MRNA) and Pfizer (NYSE:PFE) have each been trending down. The moves across the broader vaccine sector suggest investors are concerned about its sustainability.
That said, there’s a lot to like about Novavax right now. Why? Its Covid-19 vaccine has received approval in Australia and other markets. And today, it is the Australian approval that’s gaining attention today among investors.
Let’s dive into what investors are watching with NVAX stock right now.
NVAX Stock Soars on Australian Vaccine Progress
Today, social media is lighting up with comments about Novavax’s vaccine hitting Australia’s doctors en masse. Tweets have suggested that approximately 3 million doses will be provided to medical offices, pharmacies, and other state hubs in Australia. Reportedly, this vaccine will be available starting Feb. 21.
So, we’re still a ways away from seeing Novavax’s Covid-19 vaccine put into the arms of eager patients. However, investors seem to like the potential for Novavax’s growth in this international market.
Following approval from the Australian Technical Advisory Group on Immunisation (ATAGI), patients can receive two doses of the Novavax vaccine. The Australian government ordered more than 50 million doses of this vaccine. The arrival of the first shipment of 3 million doses already has investors excited.
As the country continues its push toward full vaccination, the hope is that more options will be better for the populace. For investors in NVAX stock, the hope is that the Australian market will provide a roadmap for growth elsewhere in the world.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
