Disney Stock Surges with Announcement of Effective COVID-19 Vaccine

A big morning in stock news! Disney stock is surging this morning (Nov. 9) after the announcement of an effective COVID-19 vaccine. For Disney and other theme parks, a vaccine would likely draw in several guests who have decided to hold off their travel plans until a vaccine is available.

As shared by Varity: U.S. markets surged Monday (Nov. 9) on Pfizer’s announcement that its COVID vaccine was more effective than expected. Theme park stocks surged. Disney opened up more than 14%, as investors eyed a bigger reopening of the company’s theme parks. Also gaining were Six Flags Entertainment (+23%) and SeaWorld Entertainment (+17%).

On Monday (Nov. 9) before markets opened, Pfizer and BioNTech SE announced that a COVID-19 vaccine candidate they developed was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis.

The companies said they are “continuing to accumulate safety data” and currently estimate that a median of two months of safety data following the second and final dose of the vaccine candidate — which is the amount of safety data specified by the FDA in its guidance for potential Emergency Use Authorization — will be available by the third week of November. Based on current projections, Pfizer and BioNTech said, they expect to produce up to 50 million vaccine doses globally in 2020 and up to 1.3 billion doses in 2021.

Have you been waiting for a vaccine to visit the Disney parks? It looks like we aren’t too far off!

Source: Variety.com