Putin announced that Russia had a successful vaccine - one that his daughter took and only got a mild fever. That's all that was needed for COVID VACCINE STOCKS to get crushed today.
The average loss was a scary 9%. All but Vaxart fell - thanks to announcing progress on its nasal vaccine.
Sorrento gave back most of its amazing gain yesterday, falling by a quarter. Other suffering major bloodletting was: iBio, Inovio and PDS Bio (down over 20%). Even high-flying Novavax had its worst day -- down over 16%.
It's hard to believe the news from Russia really meant that much since this was a predictable PR coup for Putin -- their candidate has taken, to be charitable, an abbreviated approach to testing. These stocks were ready for a correction and today they got it.
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