This past weekend Pfizer, a multinational pharmaceutical company, announced that it has a potential vaccine which is more than 90% effective. This was huge news not only for the US but for countries around the world as many once strong economies are now crippling to the ground. The US especially had one of the best economies ever before COVID-19 hit in March and now this vaccine could give the stock market the jumpstart it needs.
It’s common knowledge that the stock market is very volatile now, beginner traders are getting rare opportunities to make loads of money with the extremely shaky market. Many have said that the rise could lead to a recession or we could see the market explode in the coming weeks and months as the news of a potential vaccine shook a sector of the stock market on Monday. Travel.
Expedia (EXPE) saw a 20% spike as soon as the market opened and other travel stocks such as Tripadvisor (TRIP) and Trivago (TRVG) saw 30% spikes early Monday morning. With more news surfacing in the coming weeks, travel stocks should be carefully watched as the industry has seen billions in potential profit lost with the travel bans and safety precautions taken by many individuals across the world. With certainty, after COVID has come under control of major health departments travel will start to grow back to the pace that it was at before the pandemic and though it will be slowly opened and available travel stocks will for sure be the first ones on the rise.
Some popular travel stocks to watch in the coming weeks and months are Expedia (EXPE), Tripadvisor (TRIP), Trivago (TRVG), and MakeMyTrip (MMYT). These are a small amount of the major travel booking stocks that were significantly affected with Pfizer’s groundbreaking news.