Last week I made some changes to my moderate and aggressive portfolios. I’ll share those changes with you at the end of this column. But let’s not bury the lead — we are close to a COVID-19 vaccine! On Sept. 23 I gave a rundown of what I expected regarding the timing and distribution of a COVID-19 vaccine. I stated, “Pfizer CEO Albert Bourla says that the ‘likely scenario’ is that the company will be able to distribute a vaccine by year’s end (pending FDA approval).” Further, I said: “The odds of a safe and effective vaccine being created relatively soon…
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Tag: COVID-19 vaccine
Vaccine hopes send stocks higher
The first real hope at ending the global coronavirus pandemic was announced on Monday. Drug company partners, Pfizer and BioNTech, announced their COVID-19 vaccine, which exceeded expectations. The news sent world stock markets screaming higher. Later in the week, some profit-taking developed, but overall, the news was met with relief and cautious excitement. Most investors expected the Pfizer drug would be, at best, 60-70% effective, so when the company announced it was more than 90% effective in preventing COVID-19, stocks soared. While this was great news, there are a few drawbacks to the vaccine. For starters, Pfizer can manufacture only…