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."  

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Source Fool.com