By now, you should have heard about Pfizer’s (NYSE: PFE) potential vaccine.
It’s good news for humanity.
Earlier this week, there was even more good news when Moderna (NASDAQ: MRNA) reported results from its own experimental vaccine, which had a 94.5% effective rate in preventing COVID-19 based on initial results.
If a vaccine can be proven to be safe and adopted widely, we could eventually see the end of the COVID-19 pandemic that has engulfed the world this year.
While there was good news at one end, the stock market decided it was bad news for “work from home” stocks.
Companies such as Zoom Video Communications (NASDAQ: ZM) saw its stock price fall from around US$500 to US$400 per share within a week.
Likewise, Top Glove (SGX: BVA), which benefited from increased glove demand due to the pandemic, witnessed its share price declining by almost 20% since last week.
Rotating in and out...