Big Pharma’s COVID-19 vaccines injected $1 trillion into the S&P 500
Here’s exactly how the market reacted to Pfizer and Moderna’s vaccine news
Energy, real estate stocks pumped way more on COVID vaccine news
Shopping centre kingpin Kimco Realty’s share price has risen 44%, transportation fuelers Valero is up 40%, as is hydrocarbon exploration company Diamondback.
As for the S&P’s biggest market value losers in the face of a potential return to normal, tech and ecommerce companies are the hardest hit.
Amazon is down more than $90 billion, while Microsoft and Nvidia have respectively lost $49 billion and $26 billion thanks to price drops of more than 5%.
However, biotech stock Biogen (BIIB) has suffered the worst price collapse of the stocks analyzed by Hard Fork, having fallen 24% between November 6 and November 16.
But rather than COVID, Biogen’s struggles have instead beenattributed to its recent failureto achieve FDA approval for its new drug for Alzheimer’s.
Arts and crafts marketplace Etsy (ETSY) and industrialists Air Products & Chemicals (APD) were next, with each stock having fallen by around 12%.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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