What happened
Pfizer announced Monday that its vaccine candidate BNT162b2 "was found to be more than 90% effective in preventing COVID-19," the disease that caused a pandemic, spawned a recession , and destroyed America's restaurant sector. Investors hearing the news Monday responded quite logically -- by buying up shares of companies that are expected to profit from people going out to eat again.
How widespread is the enthusiasm? Pretty darn wide. In addition to restaurant stocks per se, we're seeing shares of companies like Coca-Cola (NYSE: KO) up 6.2% in 12:15 p.m. EST trading. At the same time, Middleby (NASDAQ: MIDD) stock was up a similar 6.1%, and lesser-known The Chefs' Warehouse (NASDAQ: CHEF) was racing ahead 29.6%.
For further details see:
Why Coca-Cola, Chefs' Warehouse, and Middleby Stocks All Popped on Today's Vaccine News