10% Bad, 90% Good
Can you believe it’s already been over 8 months since the pandemic began? The initial conversations of disbelief and asking everyone their opinion on “how long is this going to last?” One thing was for sure, the first step to putting all of this behind us will be the release of a safe and properly tested vaccine.
On Monday, BioNTech and Pfizer Inc’s COVID-19 vaccine candidate showed very promising results. After conducting their Phase 3 clinical trial, the vaccine demonstrated that it can protect most people from contracting symptomatic infections of the virus.
The vaccine announcement, along with the U.S. presidential elections coming to conclusion, sent U.S. stock index futures blasting upwards. BioNTech shares gained 13.91% and Pfizer gained over 7.69%, respectively.
BioNTech and Pfizer are not the only ones with vaccines in late-stage clinical trials. Moderna for example has a similar vaccine available and investors should expect results soon. On Monday night, Dr. Fauci (American Physician and Immunologist) said that “a vaccine is right around the corner, looks very promising”.
Lastly, it’s important to note that it’s been made clear by President-elect Joe Biden that “ even if a vaccine is authorized by the end of year, it will be many months before there is widespread vaccination in the country.” We haven’t made it out of the woods quite yet.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
