Wayfair stock slumps after COVID-19 vaccine trial announcement

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Wayfair Inc. stock slumped 17% in early Monday trading after Pfizer Inc. and BioNTech DE [s:bntx] announced a “successful” COVID-19 vaccine trial. Wayfair is among the brands that has benefitted from soaring e-commerce activity as shoppers stayed away from malls and stores during the pandemic. And the e-commerce retailer has gotten a boost from increased consumer spend on items for the home. Amazon.com Inc. , which has also made gains during the pandemic, fell 4.4% in early trading. Wayfair shares are up nearly 179% for the year to date while the S&P 500 index has gained 12.7% for the period.
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