Peloton stock holders had a rough day today and may be in for further chop, as the country re-opens.
The CEO of Pfizer was on CNBC this morning to announce that his company’s vaccine has a greater than 90% efficacy against coronavirus infection (CNN story here). This is great news for the country and the rest of the world as it means that we can start to think about life post pandemic.
It remains to be seen, however, how long will it will take to distribute the vaccine. In addition, a booster dose will be needed. To make things more nebulous, not everyone will want to take the vaccine, which may limit its effectiveness.
In any case, Wall Street is looking ahead, and the stock price of Peloton was down nearly 15% in trading today on the news of an effective vaccine as investors take profits and re-invest in companies that will benefit from the re-opening trade.
What do you think? Will you be relegating your Bike or Tread to the laundry room and heading back to the gym? 🙂