{"id":1012,"date":"2020-11-10T13:01:35","date_gmt":"2020-11-10T13:01:35","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1327413"},"modified":"2020-11-10T13:01:35","modified_gmt":"2020-11-10T13:01:35","slug":"traders-dump-zoom-for-expedia-as-pfizer-vaccine-teases-life-after-covid","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1012","title":{"rendered":"Traders dump Zoom for Expedia as Pfizer vaccine teases life after COVID"},"content":{"rendered":"\n

Pfizer sent stock markets into a spin on Monday after the pharmaceutical giant shared promising results<\/a> of its COVID-19 vaccine trials.<\/p>\n

Traders, presumably buoyed by the idea of an eventual return to normal, dumped 2020\u2019s most successful \u2018stay-at-home<\/a>\u2018 stocks for travel plays like Expedia (EXPE) and Booking Holdings (BKNG).<\/p>\n

\"pfizer,
<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

EXPE and BKNG jumped 20% and 16% respectively to bring them back into the green for the year-to-date.<\/p>\n

[Read: Here\u2019s what you need to know about Pfizer\u2019s COVID-19 vaccine<\/a>]<\/em><\/p>\n

On the other hand, conference call darling Zoom Video (-21%) and digital signature prince DocuSign (-17%) collapsed, but remain significantly up in 2020.<\/p>\n

<\/i><\/a>NASDAQ 100\u2019s biggest losers post-Pfizer announcement (top 18).<\/figcaption><\/figure>\n

US tech giants PayPal (PYPL), Netflix (NLX), and Amazon also fell, alongside gaming stocks Take-Two Interactive, Activision Blizzard, and NVIDIA.<\/p>\n

The market\u2019s sentiment also shows up at the macro-scale. The tech-heavy NASDAQ 100 index dropped more than 2% while the broader S&P 500 (which includes airline and old-school bank stocks) rose 1% to nearly break its September 2 record high.<\/p>\n

<\/p>\n

Pfizer\u2019s COVID vaccine tease boosted \u2018back-to-normal\u2019 stocks<\/h2>\n

Travel stocks EXPE and BKNG were indeed the NASDAQ 100\u2019s biggest benefactors of Pfizer\u2018s glimpse into a post-COVID world, at least yesterday.<\/p>\n

In fact, Norwolk-headquartered BKNG gained more dollar value than any other NASDAQ 100 company. Pfizer\u2018s announcement added $11.8 billion to BKNG\u2019s market cap, which now sits close to $87 billion.<\/p>\n

(If the visualizations below don\u2019t show, try reloading this page in your browser\u2019s \u201cDesktop Mode\u201d.)<\/em><\/p>\n

Other big winners include coffee lord Starbucks ($5.8 billion increase), hotel kingpin Marriott International ($4.2 billion), and retail discounters Ross Stores ($4.6 billion).<\/p>\n

As for the biggest market value losers: Beijing-headquartered JD.com saw more dollars drain from its market value than any other, down $102.2 billion (it\u2019s still worth more than $1 trillion).<\/p>\n

The four horsemen of our techpocalypse<\/del> Amazon, Facebook, Microsoft, and Apple were next hardest hit, having collectively lost $215.2 billion from their market values yesterday.<\/p>\n

Curiously, Pfizer\u2018s share price (PFE) didn\u2019t pump quite as much as some \u2018back-to-normal\u2019 stocks.<\/p>\n

Despite the company sourcing the (supposed) good news, PFE rose just 7.6% to break into the green again for 2020.<\/p>\n

<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

Still, PFE trails practically every relevant major index for the year-to-date. Pfizer has underperformed against the NASDAQ 100 and the S&P 500, as well as the more specific NASDAQ Biotechnology and S&P 500 Health indexes.<\/p>\n

However morbid, it\u2019s hard to say who needs Pfizer\u2018s vaccine more: the company itself, or the rest of the market that just placed huge bets on it actually working. Fingers crossed until we find out, I guess.<\/p>\n

Published November 10, 2020 \u2014 13:01 UTC <\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pfizer sent stock markets into a spin on Monday after the pharmaceutical giant shared promising results of its COVID-19 vaccine trials. Traders, presumably buoyed by the idea of an eventual return to…<\/p>\n","protected":false},"author":1,"featured_media":1013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1012"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1012"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/1013"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}