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Novavax Inc. (NASDAQ:NVAX) just received expanded authorization in Canada for its Covid-19 booster. Regulators in the country have approved the shot for adults in the country that were previously immunized with the company’s protein-based vaccine.
NVAX is 0.6% lower despite the news, and was last seen trading at $20.67. The drugmaker recently reported upbeat third-quarter financial results, which helped its shares briefly pop back above the $24 level. Year-over-year, Novavax stock is off by 88.7%.
Options traders remain firmly settled in the bearish camp. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), NVAX sports a 50-day put/call volume ratio that sits higher than 96% of readings from the past year.
Many of us will read this and be oblivious to the worldwide crisis. But if the current trends continue, it will become real to all of us soon enough. Most of us learned in elementary school that 97% of the world’s water is salt water. And only about 1% of the total water supply is drinkable.
That is becoming difficult math for several areas of the world. A severe, multi-year drought is causing water levels to sink to historically low levels. And the federal government is threatening to cut water use by 25% in the most-affected states of Arizona, California, and Nevada.
And even if we’re not put under water restrictions, we are all likely to see higher costs for food. One reason for that is that about 25% of the nation’s food supply comes from California. An American Farm Bureau Federation survey conducted in 2021 found that 40% of farmers sold off part of their cattle herds.
But opportunities present themselves in the midst of crisis, and this is no difference. In this special presentation, we’re looking at seven water stocks that look like smart buys as the world grapples for solutions.
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