Earlier this week, the news of a highly effective vaccine seemed like good news for almost all stocks. However, some TSX stocks seemed to suffer as a result.
Now that the vaccine looks to be on the way, investors have switched focus to distressed businesses and have sold-off tech and gold stocks which have rallied through the pandemic.
If you think about it, this doesn’t make a whole lot of sense. Gold has been rallying because of the financial and economic consequences of the virus.
The vaccine is extremely important to start to help save lives. However, it doesn’t fix the lingering economic issues caused by the pandemic. Furthermore, one of the biggest catalysts for gold prices over the short-term was an inevitable stimulus bill that the United States desperately needs.No matter what happens when Joe Biden takes over as President or the news of how safe the vaccine is (which is […]
November 16, 2020 (updated November 16, 2020) Published by StockMan