Coronavirus treatment stocks come with an important side effect: they tend to sell off on the news.
After months of grim pandemic headlines, this week finally brought signs of major progress: Pfizer and its partner BioNTech announced their Covid-19 vaccine was more than 90% effective. What’s more, Moderna—whose vaccine uses a similar technology to Pfizer’s—said Wednesday its vaccine candidate should have efficacy data soon. Even as Covid-19 cases are surging in the U.S., it is finally possible to imagine the end of the pandemic.
