Covid Cases Spike: Here are the Stocks That Will Rise
Covid cases are on the rise again. This could cause a backlog in hospital emergency rooms. To prevent growth in serious cases, investors should re-visit the mRNA vaccine firms. This time, look at Novavax (NVAX), which bears are betting heavily against.
Short sellers have a 48.9% short float against NVAX stock. The firm cannot afford to repeat the mistake of earning the FDA's approval after the pandemic ended. This time, it has an updated Covid vaccine ready for distribution. Its Director, David Kaslow, said the FDA will review its protein-based vaccine expeditiously.
Markets speculated on Moderna (MRNA) by bidding the stock to around $118. Last month, shares traded below $100. Markets doubt that the company will sell a decent volume of vaccines. They will need to wait until 2028 before the company develops vaccines for other diseases on its mRNA platform.
Pfizer (PFE) closed at a 52-week recently. Value investors gave up on the company's vaccine prospects. Still, Paxlovid is an effective anti-viral that could have higher sales than investors expect.
Pfizer's vaccine partner BioNtech, despite trading at a P/E of just 6.0 times, is struggling to rise. Markets are similarly unsure that the firm will report strong Covid vaccine sales in Q4.
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