“So, MDW could be pretty awesome this year…” – Jeff
The markets started the short week early… plummeting in the last hour of trading on Friday.
Today we’re talking Pfizer making vaccine moves.
Pfizer and BioNTech have done it. Kind of. The pharmaceutical partners are the first to apply for FDA emergency use approval for their ‘vid vaccine. Sign off by the fun police at the FDA would mean that Americans could have access to the vaccine before it’s granted widespread public approval.
Not so fast
It’s not going to be a free-for-all, though. Healthcare workers and the elderly are first in line. Next comes essential workers, teachers and people in homeless shelters and prisons (except you, Harvey Weinstein), followed by children. Then, and only then, do the rest of us plebeians receive the gift of life from our gracious big pharma overlords.
Ready to roll
Back in July, the US agreed to buy 100M doses of Pfizer’s tiny prick for $1.95B. Now, it looks like it will have to pay up sooner than anyone could have expected. This marks the first time ever that having to pay early is a pleasant surprise.
Pfizer shares closed up 1.4% and the broader markets didn’t seem to give a damn.
But wait, there’s more
Regeneron also got the FDA’s emergency sign-off to start slinging its IV antibody cocktail to Americans. That cocktail is the same one used by President Trump. You know, the one he touted as the “cure.”
Initial doses will be available to around 300k patients through a federal allocation program. The drug will be free, but patients will have to pay for the IV. So they can live the rest of their virus-free life riddled with medical debt.
Regeneron closed up 0.78% on the news.
The bottom line…
So, we’re really doing this thing, huh? You bet, and faster than just about anybody expected.
According to the head of Operation Warp Speed, Moncef Slaoui, the US will “hopefully” start vaccinations within the next three weeks. Holy sh*t, that is fast.
Around May, Slaoui hopes to have 70% of the US population immunized which makes him literally the only person more optimistic than Chris Traeger.
Tesla was given an essential workforce exemption from California’s Department of Public Health, allowing Tesla employees to still go into work during the most recent stay at home order. Presumably because that’s easier than dealing with Elon’s tempter tantrum.
If you don’t remember, Alameda County’s health authorities required Tesla to decrease the number of employees going into the factory and office to only minimum basic operations back in May. Elon defied those orders. I guess your strongly worded letter goes a lot further when you’re worth more than Zuck.
Ah, the winter of 2017, when Corona was just a beer you drank and bitcoin was edging close to $20k.
Bitcoin rose to $18,766.79 on Friday, coming oh so close to December 2017’s ATH of $19,891.99. It’s gained 17% just this week, and more than 160% YTD. How’s the S&P doing, btw?
It wasn’t just bitcoin that rose. Other fake currencies major cryptocurrencies such as Ethereum, Ripple, and Litecoin also saw gains. The three second-rate cryptos rose 25%, 65% and 32% last week.
Wish filed for its IPO prospectus on Friday, setting in motion the next step toward going public. The e-commerce marketplace will list on the Nasdaq exchange under the super original ticker symbol ‘WISH’.
Wish reported $1.75B in revenue for the first nine months of this year, up 32% from the same period last year. Its net loss, however, widened, climbing to $176M in the first nine months of 2020 vs. $136M last year. Turns out selling bootleg iPads for $3 isn’t incredibly lucrative.
I need a CoStar
Commercial real estate analytics company CoStar will acquire Homesnap for $250M. The deal is all cash.
Not to be confused with its d*ck pic sending name neighbor, Homesnap is a software platform that helps reinforce agent-client relationships (I’ve seen those kind of movies) and real estate agent workflows.
The software company counts more than 300k agents all over the nation as clients, and has seen its active monthly users count grow at a compounded annual growth rate of over 40% for the past four years.
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