Christmas came early this year!
The world was greeted with a present from Pfizer and BioNTech on 9 Nov 2020 when they jointly announced their vaccine was 90% effective against SARS-CoV-2 infection. They would submit the safety data required by the FDA for the vaccine to be put to use by the third week of November. If successful, they expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021.
The news buoyed the stock market with large movements seen during pre-market trading hours in the U.S.
In general, the travel stocks jumped while the stay-at-home stocks slumped.
Let’s look at some of the gainers and losers among the U.S. stocks on 9 Nov 2020.
Cruises up
The three musketeers – Carnival, Royal Caribbean and Norwegian – really had a bad time in 2020, seeing their stock prices declined as much as 90%. They will probably be the ones that would rejoice the most.
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