NVAX stock jumps 6% pre-market as Shah Capital pushes board

Novavax (NVAX) stock surged over 6% pre-market after activist investor Shah Capital, holding a 9.11% stake, announced plans to vote against board nominees and executive pay. The investor cited persistent underperformance and urged strategic changes like cost cuts and share buybacks. This push for action comes despite retail sentiment remaining bearish on the vaccine maker.