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. However, Novavax stock actually fell in the first few hours of trading Thursday morning and only began to rise shortly before 11 a.m. EDT.