The rising hopes for a COVID-19 vaccine had pushed investors to reorder which stocks they saw winning and losing, with investors opting to scoop up shares of beaten down value stocks in industries like energy and financials that were battered early on in the pandemic. Value stocks are often defined as companies whose shares trade at cheap levels.
“It will take time for this rotation to complete its course. Investors who are patient and that have stayed diversified during these challenging times will be rewarded in the long run,” Weimer added. Elsewhere in the market, some of the massive rotation that swept through early this week also gave up momentum.
Many risks remain, the biggest perhaps whether investors have become too convinced about a potential COVID-19 vaccine just as coronavirus counts surge at worrying rates across the U.S. and Europe, prompting some governments to restore restrictions on businesses.
Biden did a great job with the Covid vaccine, just saying.
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Then we see that the CEO cashed in $5.5 million in options. Doesn't exactly inspire confidence. If he believes in the vaccine shouldn't stock value be higher after he saves the world?
Trump took credit.
thanks for this news