Social media and gig economy stocks rallied on Wednesday. By the close of trading, shares of Pinterest (NYSE: PINS) , Upwork (NASDAQ: UPWK) , and Fiverr International (NYSE: FVRR) were up 7%, 14.2%, and 17.7%, respectively.
After Pfizer and BionTech reported exciting results from their phase 3 clinical trial for their coronavirus vaccine candidate on Monday, many investors sold stocks that performed well during the COVID-19 crisis and bought companies that could benefit from an economic recovery.
Gig economy and social media platforms rebounded after declining earlier in the week. Image source: Getty Images.
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Why Pinterest, Upwork, and Fiverr Stocks Surged Today