AMC Shares Popped Off in Premarket Trading and Beautiful Day for American Airlines
AMC shares have been tumbling hard all year. Miraculously, once Pfizer and BioNTech announced that their top vaccine candidate was found to be more than 90% effective in stopping symptomatic infections of the virus.
The release of a vaccine must feel like the holy grail to restaurants and movie theatres. The move might be a little early given the fact that even once these trials are completed (which they are not), it will still take many months before a vaccine is ready to be manufactured and sent out on a mass level.
During Monday’s trading session, airline stocks spiked up with companies like American Airlines, Delta Airlines and United Airlines all up double digits by end of day. This was just one of the many sectors who got a boost from the vaccine news released by BioNTech and Pfizer.
Airlines are one of the sectors who had been the hardest hit by the coronavirus pandemic. Since April, there has been a slight increase in air travel but at the end of the day, travel isn’t anywhere near where it used to be. When things go back to normal, where will you be travelling first?
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.