Novavax: Interesting Data Points
Novavax (NVAX) started January with six consecutive up days until the 5.6% dip on Wednesday. Based on the short interest data for the end of December, shorts likely pressed the stock down to end the year due to tax-loss selling. The rally is likely those shorts covering heading into the JPM conference presentation tomorrow.
Another interesting data point is that StockTwits posters are uniformly bullish on Novavax heading into the presentation.
No logical reason exists for being bullish into trading tomorrow. Fade the hope trade tomorrow.
Disclosure: No position