Although that shift will likely continue after the pandemic finally abates, it appears that some of those pandemic-charged stock prices are beginning to return to earth.
Other sectors, including exercise equipment and online retail, have gotten a boost from the coronavirus-related shutdown and continued wariness of many to return to the office, gym or shopping mall. But shares have dipped recently.Peloton Interactive, a maker of upscale home exercise equipment, recently traded at $99.85 a share, down a cumulative 28.55% from a 52-week high of $139.75.
The recent stock movement plays out against Moderna's announcement that its coronavirus vaccine was 94.5% effective. Earlier, Pfizer said testing showed its vaccine to be more than 90% effective against the disease. If the vaccines are widely available, and if most people get the shots, civil society may return to pre-pandemic activities, boosting travel, hotels, restaurants and entertainment, including professional and college sports.
Other sectors benefited. United Airlines rose 6.30% in early trading Monday. Southwest was up 3.81%. Delta gained 4.43%. Carnival, an operator of cruise ships, added 11.75% in early trading Monday. Hilton Worldwide gained 2.10%.