Over the last few months, the pandemic crippled the economy, destroying top stocks.
However, with a potential vaccine, those stocks may now be great “blood in the streets” opportunities. All on news Pfizer just said its COVID-19 vaccine is 90% effective.
“Amazing news from Pfizer with 90% efficacy. This hopefully is the beginning of the end of our fight against Covid,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, said, as quoted by CNBC.
Plus, as noted by Pfizer Chairman and CEO Albert Bourla:
“It is a great day for science. It is a great day for humanity when you realize your vaccine has 90% effectiveness. That’s overwhelming,” Bourla said on CNBC. “You understand that the hopes of billions of people and millions of businesses and hundreds of governments that were felt on our shoulders, now… I think we can see light at the end of the tunnel.”
With that, investors are piling back into damaged names in the travel industry for example.
- With plenty of pent up demand from travelers, cruise stocks, like Carnival (CCL) and Royal Caribbean (RCL) could push higher.
- Theatre stocks are pushing higher, including AMC (AMC) and IMAX (IMAX)
- Other leisure names like hotel stocks are pushing higher, including Marriott (MAR), Hilton (HLT), and Hyatt (H).
