Tuesday 10 November 2020
Pfizer sent stock markets into a spin on Monday after the pharmaceutical giant shared promising results of its COVID-19 vaccine trials. Traders, presumably buoyed by the idea of an eventual return to normal, dumped 2020’s most successful ‘stay-at-home‘ stocks for travel plays like Expedia (EXPE) and Booking Holdings (BKNG). EXPE and BKNG jumped 20% and 16% respectively to bring them back into the green for the year-to-date. [Read: Here’s what you need to know about Pfizer’s COVID-19 vaccine] On the other hand, conference call darling Zoom Video (-21%) and digital signature prince DocuSign (-17%) collapsed, but remain significantly up in…
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