Pfizer Inc on Monday said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study, a major victory in the fight against a pandemic that has killed over 1 million people, roiled the world’s economy and upended daily life.
Pfizer and German partner BioNTech SE are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. emergency use authorization later this month.
Pfizer and BioNTech have a $1.95 billion contract with the U.S. government to deliver 100 million vaccine doses beginning this year. They have also reached supply agreements with the European Union, the UK, Canada, and Japan.
Peloton has continually said their operations have been massively impacted by COVID-19 with continual difficulties meeting demand. But sales-wise, they have been one of the companies who’ve benefited from periods of lockdown around the world as people looked for new ways to exercise with the majority of gyms being shuttered for weeks at a time.
Peloton stock started 2020 at $29.74, and it has been as high as $131.93 in recent weeks. Despite record Q1 earnings, the stock has been down in recent days as Peloton has struggled to keep up with demand. Orders for the new Bike+ are currently exceeding ten weeks while Bike orders are still on a four to six-week delay.
While the short term boom for Peloton stock might be over, I still expect it to perform well in the long term. As someone who has spent twenty years at a traditional gym, I have no plans to go back. I’ve got weights at home now, and I prefer the flexibility that my Peloton Bike offers over the gym experience (or even outdoor cardio).