PLAY - Restaurant Stocks Soar on Phenomenal Vaccine News
Shares of well-known restaurant chains The Cheesecake Factory (NASDAQ: CAKE) , Dave & Buster's Entertainment (NASDAQ: PLAY) , and BJ's Restaurants (NASDAQ: BJRI) are soaring 23%, 34%, and 26% higher, respectively, after highly promising data on a leading COVID-19 vaccine hit the news feeds.
Shares of Pfizer (NYSE: PFE) also jumped more than 10% higher after releasing information that its clinical trial showed its leading vaccine candidate was more than 90% effective in preventing COVID-19 in participants who had no evidence of prior infection. The news was a breath of fresh air for brick-and-mortar businesses that have been clobbered by social distancing and more cautious consumer behavior amid the pandemic. The Dow jumped 4.6% in early trading, followed by a strong 3.5% move higher in the S&P 500.
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Restaurant Stocks Soar on Phenomenal Vaccine News