COVID-19 Vaccine Announcement Causes WWE Stock To Shoot Up

WWE lost a lot of momentum when live fans could no longer attend their events. The COVID-19 pandemic caused everyone to change their plans, but there is a big light at the end of the tunnel.

Drug maker Pfizer announced that early data from its coronavirus vaccine shows it’s more than 90% effective. This brought a big boost to the stock market, and WWE benefited as well.

CNN reports that global stocks shot up after the vaccine’s announcement. The Dow was up 1,272 points, and WWE’s stock rose 8.34% as of this writing.

A research note from Stephen Innes on the new vaccine says that it “looks like the game-changing panacea the oil market has been waiting for.” Innes is chief global markets strategist at Axi.

WWE programming might see a huge boost if a COVID-19 vaccine can get approval, especially if that vaccine can be distributed in a hurry. There are currently no plans to bring fans back to WWE events on a larger scale, but it would certainly make filling Raymond James Stadium for WrestleMania 37 an easier task if there is an effective vaccine for the novel coronavirus.