In early November, Pfizer and its German partner, BioNtech, released results of their ongoing trial for a COVID-19 vaccine, showing very positive early results of 90% efficacy rates. Shortly after, Moderna followed suit with similarly positive results from their COVID vaccine trial. In the midst of a second wave of increasing case counts and the communal weariness from ongoing (and increasing) restrictions and lockdowns, the good news couldn’t have come soon enough. Investors around the globe were quick to hitch their wagons to the idea of a vaccine-enabled return to gatherings, events, traditional business functions and economic activity.
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