Stocks are rising this morning after Pfizer has indicated that they have a potential COVID-19 vaccine that is 90% effective in preventing the viral infection.
After this announcement the stocks began to climb with AMC moving up 50% and Disney jumping up 13%. If this is indeed true, it could be the Hail Mary that AMC and Disney need to bounce back.
Right now AMC is barely holding on and as studios keep postponing their theatrical releases, but this might be the good news they need to boost confidence and make it into 2021.
Cinemark went up 60%. Comcast was up 7% and Netflix went down 7%.
It’s going to be an interesting day for the stock market as investors feel more confident in companies that revolve around in-person business.
Keep in mind the percentages Pfizer announced were just in clinical tests and it will still be awhile until the vaccine can be distributed and done in a way that will reach enough people to make a difference.
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