Shares of stocks that have benefited from stay-at-home trends are down again on Monday after Moderna Inc. issued a press release stating that its COVID-19 vaccine candidate has been shown to be 94.5% effective in a phase 3 trial.
See more: Moderna soars to market after COVID-19 vaccine candidate achieves 94.5% efficacy in Phase 3 trial
by 6%, and Peloton Interactive Inc. PTON,
of 4%. Both companies have been big beneficiaries as people have spent more time at home, with Zoom benefiting from the booming use of its video conferencing software and Peloton reporting increased sales of its connected exercise equipment, at the point where the company has difficulty meeting demand.Other names in decline in pre-market commerce Monday include DocuSign Inc. DOCU,
which allows companies and individuals to collect signatures remotely on legal documents, as well as Fiverr International Ltd. FVRR,
and Upwork Inc. UPWK,
which both provide platforms for those looking for freelance work. DocuSign and Upwork shares are each down 2.3%, while Fiverr’s US-listed shares are down 6%.
Social media names that have seen success in recent months are also on the decline, including Snap Inc. SNAP,
2.2%, and Pinterest Inc. PINS,
3.9%. Snap positioned its Snapchat service as a place where friends could still connect despite real-world distance restrictions, and Pinterest offered inspiration for home improvement and other projects people could. do while remaining confined to their homes.
Media streaming stocks read Netflix Inc. NFLX,
et Roku Inc. AN,
are 1.5% and 2.1%, respectively.
This announcement is the latest optimistic news on the COVID-19 vaccine front, after Pfizer Inc. and BioNTech SE revealed last week that their own COVID-19 vaccine candidate had a 90% efficacy rate in its clinical trial. phase 3. Home equity stocks also came under pressure following the announcement of Pfizer and BioNTech.
As stay-at-home names take a beating after Moderna’s announcement, the news gives a boost to other industries, including retailers like Nordstrom Inc. JWN,
et Macy’s Inc. M,
as well as Royal Caribbean Group RCL cruise stocks,
et Carnival Corp. CCL,
and theater names like AMC Entertainment Holdings Inc. AMC,
and Cinemark Holdings Inc. CNK,