The Winners and Losers of an Effective Vaccine
Positive vaccine news was welcomed by most everyone in the world, but some stocks are going to get crushed, according to CNBC.
Work-from-home stocks were the first stocks to fall after Pfizer and BioNTech reported positive vaccine clinical data. Shares of Zoom Video were down as much as 15 percent as investors saw the end of the virtual environment the world has grown so accustomed to. It is far from over and Zoom has cemented itself as a global necessity, but growth expectations were shattered.
Other stocks that have surged as individuals stay inside fell. Amazon and Netflix fell 3.4 percent and 5.4 percent, respectively. Teladoc Health fell 6.4 percent and Shopify fell 5.1 percent.
Year-to-date as of Friday's close:
- Zoom was up 635 percent
- Amazon was up 79.2 percent
- Netflix was up 59.1 percent
- Teladoc was up 146.2 percent
- Shopify was up 162.8 percent.
The winners of the positive vaccine data were cyclical stocks.
In the premarket Monday morning following the positive vaccine data:
- Bank of America was up 8 percent
- JPMorgan Chase was up 7.2 percent
- Major cruise lines surged more than 20 percent
- Airlines surged more than 22 percent
The pandemic is far from over, but today we grew one step closer to closing this horrific chapter in history.