Via a press release on Monday, the biotech firm Moderna announced that their vaccine against Covid-19 has come out to be over 94.5% effective in preventing coronavirus infection. The vaccine has shown some fine results as per the claims of the company with 95 candidates who showed the infections out of the 30,000 who were tested.
Here’s what we know so far about the covid-19 vaccine:
The vaccine has tested well and has shown no signs of harm on the candidates. The bodies of the candidates have shown fine tolerance towards the vaccine. Some of the key side effects observed were:
- After the first shot: Pain at the site of injection
- After the second shot: Muscle pain, fatigue, and headache
Therefore, a vaccine with lesser side effects is always welcomed. At this point, when the Covid-19 cases are limitlessly increasing, a vaccine always comes up as good news. The stock market fluctuations are subject to anything new that happens in the nation. The Pfizer vaccine announcement earlier also caused the stock market indices to surge up while the increasing Covid-19 cases made them low. This announcement had to bring about changes in the stock market.
Moderna Inc. (NASDAQ: MRNA): Statistical Analysis
- 52 Week Range: $17.68 – $103.20
- Average Volume: 9,967,795
- Market Capital: $37.153B
Stock Market Indices: Dow Jones and S&P
Dow Jones Industrial Average saw a great rise after this announcement by Moderna. The rise was huge since it surged up by more than 450 points (or 1.5%). This was a record-breaking rise and quite unexpected for a few investors. Similar was the case with the S&P 500 Index which also rose very high.
Moderna also rose as high as 9% which in itself was a record-breaking surge during this recessional phase. This surge affected the other stocks as well. Hotel stocks, airline and cruise stocks, and the stocks of the restaurant companies went up high after this. This surge might be taken as a step towards their re-establishing themselves back in their fields. One thing is clear for sure, a fully working and approved vaccine would bring back all the major businesses that got affected during lockdowns and curfews that were imposed worldwide.
While a vaccine would be the reason for betterment for so many companies, the online sector which stayed on the top all this while would be threatened a bit. Stocks of companies such as Netflix Inc. (NASDAQ: NFLX), Zoom Video Communications Inc. (NASDAQ: ZM), and Slack Technologies Inc. (NYSE: WORK) went down and if the situation of Covid-19 improves or a vaccine is out, then these stocks will have to suffer a little.
However, the coronavirus cases continue to rise and the risk is still high. Therefore the fluctuations will continue to occur in the stock market until a vaccine is finally approved with 100% effectiveness. What will happen in the case of Moderna’s vaccine, will again bring about changes in the stock market but for the time being, the stocks of Moderna have risen quite high.