Novavax: The Gig Is Up
- Novavax has issued dire warnings to shareholders as the company continues to burn substantial amounts of cash.
- The small biotech continues to dilute shareholders via near-endless share issuances, and no guarantees exist that the company will have a successful 2023 vaccine update.
- Novavax stock is one to avoid, even after crashing below $7 on the dire warning.
Anyone historically following Novavax, Inc. (NASDAQ:NVAX) could've predicted this ending for the biotech focusing on vaccines. The company has a history of promising new vaccines while constantly diluting shareholders over and over with new share issuance. The stock soared to amazing heights on exuberance around the approved covid vaccine, but now the gig is up. My investment thesis is Bearish on Novavax, Inc. stock following statements from the company about substantial doubt of a going concern due to heavy losses and questionable covid vaccine demand.
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