Why Entertainment Stocks Popped Today

Shares of companies that deliver entertainment to large numbers of people popped on Monday after positive coronavirus vaccine news was released from Moderna. The company said its COVID-19 vaccine is up to 95% effective against the virus and could be approved in the U.S. by the end of the year. It marked the second straight week that started with good news about a potential vaccine.

The reaction from stocks that have been pummeled by COVID-19 was swift. Shares of amusement park Cedar Fair (NYSE: FUN) jumped as much as 10.9% in early trading, entertainment venue Dave & Buster's (NASDAQ: PLAY) was up 12.1%, and MGM Resorts (NYSE: MGM) rose 5.3% at its high. The stocks were up 3.7%, 8.7%, and 2.1%, respectively at 3:35 p.m. EST. 

Image source: Getty Images.

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Source Fool.com