5 Biggest Wall Street Stories Of The First Nine Months Of 2020

Digitalization

The pandemic has accelerated the digital shift, thus driving the e-commerce boom. As a large number of consumers avoid direct contact and stay at home, the demand for cloud computing, gaming, e-sports, streaming services as well as online shopping has increased. Additionally, investors continued to pile up software shares, which are apparently more insulated from the impacts of the virus.

Given this, investors could bet on the booming trend with the best-performing stock of this year so far in this space. Zoom Video Communications (ZM - Free Report) has surged more than 584% so far this year and has a Zacks Rank #1 (Strong Buy). The company’s cloud-native unified communications platform combines video, audio, phone, screen sharing and chat functionalities, making remote-working and collaboration easy. It has seen solid earnings estimate revision of $1.10 over the past month for fiscal year (ending Jan 2021) and has an expected growth rate of 577.1%.

Race for Vaccine

More than 150 coronavirus vaccines are in development across the world. Among the companies racing for the vaccine, Moderna (MRNA - Free Report) is leading the way with the start of its third-stage clinical trial on Jul 27. Pfizer’s (PFE) management said that the vaccine if proven to be safe and effective by federal regulators, in collaboration with BioNTech could reach Americans before 2020-end. The phase 3 clinical trial data result is expected to be released next month.

AstraZeneca Plc (AZN) resumed the U.K. trial of its COVID-19 vaccine, AZD1222, in collaboration with the University of Oxford, following confirmation by the Medicines Health Regulatory Authority that it was safe to do so. The trial was paused globally after a person who received the vaccine had an unexplained illness. Johnson & Johnson (JNJ) and Novavax (NVAX) also began their phase 3 trials for a COVID-19 vaccine in the United States last week.

Others like Sanofi (SNY) with GlaxoSmithKline (GSK) started phase 1/2 clinical trial and Merck (MRK) begins human trials of the COVID-19 vaccine candidate this month. Additionally, Vaxart (VXRT) has received clearance from the U.S. Food and Drug Administration to conduct the phase I clinical trial of its COVID-19 vaccine candidate. The company is developing an oral vaccine to prevent COVID-19.

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