Over the last few days, shares of Novavax (NVAX) exploded from $79.80 to $111.77.
All after the U.S. government awarded the NVAX a $1.6 billion contract to cover the testing, commercialization, and manufacturing of a potential vaccine — the biggest award issued from the White House’s “Operation Warp Speed” program.
“What this Warp Speed award does is it pays for production of 100 million doses, which would be delivered starting in the fourth quarter of this year, and may be completed by January or February of next year,” NVAX Chief Executive Stanley Erck told Reuters.
The award will also cover the cost of a large Phase III trial as well.
“Adding Novavax’ candidate to Operation Warp Speed’s diverse portfolio of vaccines increases the odds that we will have a safe, effective vaccine as soon as the end of this year,” Health and Human Services Secretary Alex Azar said, as quoted by Barron’s.
Shares of Tesla (TSLA) jumped from $948.52 to a high of $1,429 in recent days, too.
All after the company reported second quarter deliveries that were above analyst expectations. TSLA reported 90,650 deliveries, which was well above estimates for 70,300. JMP Securities just boosted its price target on TSLA to $1,500 a share, as well.
“If the company can manage 90K units during an extraordinarily challenging quarter, there is no reason that TSLA cannot be shipping 130K to 140K units a quarter by the end of the year in our opinion,” noted analysts at JMP. “That puts TLSA on a trajectory to ship 757K units in 2021.”
Shares of NIO Inc. (NIO) rocketed from $7 to $13.22 after recorded another big jump in sales. For June 2020, the company sold 3,740 EVs for the month, up 179% year over year. “In June, we achieved a historical high of monthly deliveries, contributing to our best quarterly performance. We appreciate the continuous support from our growing and loyal user community,” William Bin Li, Nio’s chairman and CEO, said.
In May 2020, the company delivered 3,436 vehicles. That included the delivery of 2,685 ES6s and 751 ES8s. “In May, we achieved record-high monthly deliveries in our history,” William Li, founder, chairman and CEO of Nio.
Shares of Clorox Co. (CLX) ran from $210 to nearly $225 over the last few days, as well.
All as hand sanitizer and cleaning product demand picks up steam with the coronavirus still wreaking plenty of havoc. With the outbreak of global pandemic, sales of hand sanitizers and cleaning products have already rocketed in most parts of the world.
As of this writing, Ian Cooper does not have a position in shares of ZNGA.