Why Novavax Shares Vaulted Higher Today

Shares of Novavax (NASDAQ: NVAX) were vaulting 9.3% higher as of 3:08 p.m. EDT on Thursday. At first glance, you might think this noteworthy gain stemmed from Novavax's regulatory disclosure after the market closed on Wednesday that the U.K. government agreed to buy 60 million doses of the biotech's COVID-19 vaccine candidate. Again though, the major market indexes were climbing in the first few hours of trading while shares of Novavax were sliding.