Disney Stocks Up More Than 10% After News of Pfizer’s Highly-Effective COVID-19 Vaccine

Theme parks have been decimated by the effects of COVID-19, and Disney is no exception, with tens of thousands laid off and numerous projects either cancelled or placed on hold due to the financial impacts of the ongoing pandemic. However, good news is on the horizon with U.S. markets surging this morning on news of Pfizer’s highly-effective COVID vaccine.

According to Variety, Disney is up more than 10% in premarket trading, as a widespread vaccine could mean a full “return to normal” at the parks. Even theater chains saw a big uptick in premarket trading, with AMC Entertainment up by 80%.

Pfizer’s vaccine was proven to be over 90% effective in preventing COVID-19 amongst trial volunteers, however tests are still ongoing, and it’s unlikely the vaccine will be released before the end of the year. Even then, initial supplies will be rationed, so we shouldn’t expect a full-on vaccine rollout until well into next year.

Not only could this help boost Walt Disney World and other Disney Parks currently under a phased reopening, but this could bring hope to the still-shuttered California theme parks, who are under much stricter guidelines for a potential reopening. Without a vaccine, Disneyland Resort could remain closed well into 2021, but this may help expedite things for the reopening if transmission rates decrease more rapidly.