When it comes to YOUR MONEY, we take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.
There's more good news when it comes to a COVID-19 Vaccine. Moderna announced on Monday, November 16th, 2020 that its shot is 94.5% effective against the virus, according to early data. This comes one week after Pfizer revealed that its vaccine is more than 90% effective. So why aren't we seeing a huge boost in the stock market?
Mark Grywacheski, Financial Advisor from the Quad Cities Investment Group, said Wall Street is skeptical after looking into the numbers a little more. He referred to this graph:
By the end of the year, 50 million doses of the Pfizer Vaccine are expected to be available. However, each individual requires two doses which means the vaccine will treat 25 million people around the world - including 12.5 million Americans, which is only 3.9% of the U.S. population.
"For those few doses that do remain in the U.S., how will they be allocated and who decides who gets treated in 2020 or must wait until 2021, or potentially even longer?" he explained. "This is just one of the many challenges with this vaccine. Yes, make no mistake about it. This is a tremendous breakthrough but Wall Street realizes this vaccine will more than likely need assistance from those other vaccines currently being developed in the pipeline to satisfy the global demand."
Infectious Disease Expert Dr. Anthony Fauci said he expects health care workers, the elderly, and people with underlying medical conditions will get the vaccine first as early as the second half of December 2020.