Novavax (NASDAQ:NVAX) stock is on the move Wednesday despite a lack of news from the vaccine company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the company’s stock is moving today. Shares of NVAX stock also aren’t seeing heavy trading with only about 2 million shares on the move as of this writing. Its daily average trading volume is about 6.3 million shares.
The most recent news from Novavax comes from an investor presentation released on Monday. However, this is another case where there doesn’t seem to be any news in that presentation that would explain why NVAX stock is moving today.
What Might Be Moving NVAX Stock
It’s possible that news from vaccine rival Moderna (NASDAQ:MRNA) is behind NVAX’s stock movement today. The company revealed yesterday that its flu vaccine failed to meet early success in a late-stage clinical trial. That could have served as a catalyst that helped shares of NVAX stock rise earlier today.
No matter the case, investors are seeing some wild movement from NVAX stock on Wednesday. The company’s shares started off the day by climbing as high as $9.31 per share. For comparison, the stock closed out trading yesterday at $9.04 per share.
Unfortunately for NVAX investors, it couldn’t maintain that price and is now trading for about $8.94 per share. That represents a 1.1% drop from yesterday’s close.
Investors seeking out more of the latest stock market news for today are in the right place!
We’ve got all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of National Instruments (NASDAQ:NATI), AMTD Digital (NYSE:HKD), and MongoDB (NASDAQ:MDB) stock moving. You can read up on all of that news below!
More Wednesday Stock Market News
- NATI Stock Alert: The $8.2 Billion Reason National Instruments Is Up Today
- Why Is AMTD Digital (HKD) Stock Up Today?
- MongoDB (MDB) Stock Pops on Morgan Stanley Upgrade
On the date of publication, William White 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.