The discovery of the Covid-19 vaccine sends shares of technology companies down

 


There was an increase in those activities that would benefit from the reopening of economies. Bank of America, JPMorgan Chase, American Airlines all experienced massive growth.

Shares of Zoom Video plummeted Monday as news of the coronavirus vaccine spread spread. Shares of Zoom fell by 15% while those of Amazon and Netflix by 3.4% and 5.4% respectively.

Shopify also lost 5.1% of its stock value. The losses came after US pharmaceutical giant Pfizer and BioNTech reported that their coronavirus vaccine was 90% effective in preventing infection.

Companies like Zoom, Amazon, Netflix and Shopify have been the big winners of the pandemic. Zoom shares rose 635% while Amazon and Netflix by 79% and 59% respectively during the year.

Shopify watched its shares rise 162%.

There was an increase in those activities that would benefit from the reopening of economies. Bank of America, JPMorgan Chase, American Airlines all experienced massive growth.