Are you looking at the travel stocks and airline stocks as a buying opportunity on the Moderna news?
First, let's tackle the Moderna news.
Moderna reported uniformly positive data from an early trial of its experimental coronavirus vaccine.
Moderna said the phase 1 trial of its proposed coronavirus vaccine candidate, induced antibody reactions in all 45 patient participants, with no serious side-effects, following two injections spanning a four week period. The results open the door to a larger study of some 30,000 patients, set to begin on July 27, and follow on from the positive results in vaccine studies reported earlier this week by drugmaker Pfizer.
National Institute of Allergy and Infectious Diseases director Dr. Anthony Fauci said the data looked "really quite good," and highlighted the fact that patients only suffered mild side effects from the injection, such as headaches, fever and fatigue
"These positive Phase 1 data are encouraging and represent an important step forward in the clinical development of...our vaccine candidate against COVID-19, and we thank the NIH for their ongoing collaboration," said CEO Stephane Bancel. "The Moderna team continues to focus on starting our Phase 3 study this month and, if successful, filing a BLA."
Now, let's talk about the travel and airlines sectors which were getting a boost based on the Moderna news.
On Tuesday, Jim Cramer said that the airlines need more financing after getting earning's from Delta.
Delta CEO Ed Bastian also said that the rebound from April’s outright plunge in domestic flying had stalled and that Delta will halve the number of extra flights it adds in August to 500.
Even with the 1,000 additional flights this month, that puts it at just 30% of its normal July schedule. Over the July 4 holiday weekend, Delta flew only one-fifth as many passengers as it did a year earlier.
Cramer said that he'd play the waiting game on these sectors.
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