Entertainment, live event and theme park companies rally on Moderna’s positive coronavirus vaccine news

/ / News

Shares of entertainment and live event companies rallied in premarket trade Monday, after biotech Moderna Inc. said a Phase 3 trial of its COVID-19 vaccine achieved 94.5% efficacy, a far higher benchmark than previously expected. AMC Entertainment Holdings Inc. , the biggest cinema chain in the world, was up 19%, while Cinemark Holdings Inc. gained 12%. Theme park operator Walt Disney Company was up 1.7%, Six Flags Entertainment Corp. rose 9% and SeaWorld Entertainment Inc. was up 3%. Live Nation Entertainment Inc. rose 6%. Stocks of companies that offer indoor fun have been hit hard by the pandemic, which has greatly reduced their activities and kept venues shuttered for months. Moderna Inc. was last up 12%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.