Potential COVID-19 vaccine causes travel stocks to skyrocket

Nov 12, 2020 Impacting Travel

Potential COVID-19 vaccine causes travel stocks to skyrocket

The two go hand in hand.

The idea of ​​a vaccine that can prevent COVID-19 and stop the coronavirus pandemic is the elixir that suspicious travelers have been looking for, and proof of that came from the numbers produced by the stock market today.

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Following the announcement that Pfizer and BioNTech have produced a vaccine they say is 90 percent effective after Phase 3 trials, the Dow Jones soared to record highs, gaining more than 1,256 points per hour before closing. the bell driven by travel stocks.

Being a trend now

Coronaviruses are a large family of viruses that are common in many different species of animals, including camels, cattle, cats, and bats.

“Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides initial evidence of our vaccine’s ability to prevent COVID-19, ”said Dr. Albert Bourla, CEO and President of Pfizer, in a release.

“We are reaching this critical milestone in our vaccine development program at a time when the world needs it most, with infection rates setting new records, hospitals approaching overcapacity and economies struggling to reopen. With today’s news, we are a significant step closer to giving people around the world a much-needed breakthrough to help end this global health crisis. “

According to Yahoo Finance, Pfizer plans to apply for the vaccine’s emergency use authorization later this month, fueling hopes that people will venture out to theaters and entertainment venues and start traveling again.

At 3:03 pm EST, travel stocks were still through the roof. –

– American Airlines was up 16.84 percent on the day.

– United Airlines rose 19.75 percent

– Delta was up 17.6 percent

– Southwest was up 11.9 percent

– JetBlue is up 23.08 percent

– Royal Caribbean sailed, 28.62 percent more

– Carnival was really a cruise ship, a whopping 35.6 percent

– Norwegian is up 26.66 percent

– Marriott International Hotels rose 14.47 percent

– Hyatt was up 20.62 percent

– InterContinential Hotels rose 11.38 percent

“With today’s vaccine news, households and businesses are going to plan ahead, for example by booking trips, vacations and [capital expenditures]”Said Torsten Slok, chief economist at Apollo Global Management.

With Pfizer aiming to have more than 1 billion doses ready by next year, “the implication is that we will immediately begin to see the positive effects on employment, GDP and earnings, even before the vaccine is available to the public. “Slok added.

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