The COVID Vaccine Rollout Will Be a Boon for These 2 Beaten-Down Stocks
This fall, U.S. officials publicly sketched out the details of a plan to provide Americans with free COVID-19 vaccinations. The Operation Warp Speed team said at the time that government agencies were preparing to begin shipping such vaccines within 24 hours of the FDA issuing an emergency use authorization for them. A recent deal between the Department of Health and Human Services (HHS) and major pharmacy chains should go a long way toward achieving that goal.
Under the plan, people will be able to get inoculated against the coronavirus at pharmacies such as CVS (NYSE: CVS), Walgreens (NASDAQ: WBA), Rite Aid, as well as other retailers with pharmacy operations such as Costco, Kroger, and Walmart.
Three out of every five drug stores across the U.S. will be part of the network providing the vaccines, which could be widely available to the general public by April. This is likely to drive a wave of foot traffic into those pharmacies, which could translate into a notable boost to revenue. And for CVS and Walgreens, that might infuse some energy into stock prices that have generally been falling for half a decade.
Source Fool.com
