Zoom Video stock fell as names benefitting from people staying at home due to the coronavirus pandemic came under pressure by the vaccine news – CNBC reported.
Zoom Video closed 17.4% lower. Fellow “stay-at-home” stocks Amazon and Netflix dropped 5.1% and 8.6%, respectively. Teladoc Health slid 13.7% and Shopify declined by 13.6%.
The losses came after Pfizer and BioNTech reported that their coronavirus vaccine candidate showed a 90% efficacy rate in preventing infections during a late-stage trial. Scientists were hoping for a vaccine that was at least 75% effective. White House coronavirus advisor Dr. Anthony Fauci had said a vaccine that is 50% or 60% effective would be acceptable.
