Investing in companies with COVID-19 pipeline candidates, both treatments and vaccines, has been a winner since March but there is a near-certainty of rough seas next month and beyond when companies release results from ongoing studies and new large-scale trials.
Aimed at quick approval, the FDA has set a relatively low bar for vaccine efficacy, 50% compared to placebo, so the first to report, assuming positive data, should see a spike in buying with commensurate softness in certain competitors. Gains in early leaders may quickly evaporate if subsequent data readouts show better immunogenicity as investors react to new frontrunners. Read more…..
Chart of the Day
Payne Capital Management President Ryan Payne joins Yahoo Finance’s Zack Guzman to break down the latest market outlook as more states loosen restrictions.