Why Shares of Chewy, Wayfair, and Etsy Are Tumbling Today
Shares of Chewy (NYSE: CHWY), Wayfair (NYSE: W), and Etsy (NASDAQ: ETSY) took a big hit today after Pfizer announced that its potential coronavirus vaccine, which is still in the clinical trial stage, has been found to be more than 90% effective.
Chewy's stock fell by 9.7%, Wayfair was down 16.5%, and Etsy slid 9.7% as of 11:57 a.m. EST.
There are still a lot of unknowns about the potential vaccine, but Pfizer said this morning that it "was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis."
Source Fool.com
