Last year, the COVID-19 pandemic and the ensuing stay-at-home orders brought severe economic troubles upon us — the effects of which are still very much present. And although the economy, and our everyday lives, aren’t fully back to pre-COVID norms yet, there are good reasons to be optimistic. Most notably, efforts to vaccinate much of the world’s population against the disease are ongoing.
Thanks to these efforts, life will continue to crawl toward something resembling pre-COVID normalcy. This, of course, bodes well for the stock market, which is forward-looking. While President Joe Biden took office amid an unprecedented crisis, the eventual reopening of the economy could lead to a bull market under his watch. Two stocks that could ride this wave are Novavax (NASDAQ: NVAX) and Eli Lilly (NYSE: LLY). Read on to find out why both of these healthcare stocks are worth buying.
Is it too late to buy shares of Novavax? On the one hand, the company’s stock is up by 1,230% in the past 12 months, largely thanks to its efforts to develop a coronavirus vaccine. One could argue that Novavax’s perceived success in this space is already baked into its stock price. However, there are both short-term and long-term catalysts investors can count on to push the biotech even higher.