Episode 49: Moderna’s vaccine is 94.5% effective.
Market Recap
Thank you for tuning into Pandocap’s market recap. We kick off this week with the markets rising sharply based on Moderna’s vaccine being an extraordinary 94.5% effective. This seems to be a Monday trend since last Monday Pfizer also announced their positive results. Again these are both just preliminary announcements and until we get to the deployment of the vaccine we will have some pull backs and moves out of tech large caps to small caps, energy, and travel.
The Dow is nearing 30,000 and today on track for the first record close since Feb 2020, some of the stocks that are leading in gains so far in November are American Express, Chevron, Walt Disney and Caterpillar with anywhere from 10 to 30 percent.
Congrats to SpaceX as it has become the first private company to launch astronauts to the International Space Station, marking the culmination of years of work in partnership with NASA on developing human spaceflight capabilities. At 7:27 PM EST (4:27 PM PST), NASA astronauts Shannon Walker, Victor Glover, and Michael Hopkins, and JAXA astronaut Soichi Noguchi left launch pad 39-A at Kennedy Space Center in Florida bound for the ISS. We seem to be getting closer and closer to the possibility of commercial space travel.
Market Close
Dow 30 29,950.44 +470.63 (+1.60%)
S&P 500 3,626.92 +41.77 (+1.17%)
Nasdaq 11,924.13 +94.84 (+0.80%)
Upcoming IPOs
Airbnb IPO is next, setting itself up to go public before year-end. The company made $219 million in net income on revenues of $1.3 billion last quarter. The company is putting aside 9.2 million shares for an "endowment" that's intended to help hosts in areas like education and emergency financial aid. It becomes effective once those shares reach $1 billion in value, with CEO Brian Chesky making an additional personal commitment of shares valued at over $100 million. The filing will detail a new equity compensation plan for Chesky, who is pledging to donate all of his future equity comp to philanthropic causes. We are thrilled and excited to see all that have worked so hard to reach this moment.
We have a great interview coming on Friday with Carlos Mosquera, Founder of Masada. Mesada es una empresa de servicios de envíos de Remesas y Pagos Internacionales inmediatos para el mercado Latino.
Have a great week!