Let's take a look at what the independent umpire says about covid vaccine efficacy. Shown below is the share price performance for the 3 (main) covid vaccine suppliers from the beginning of 2020 to today.
BioNTech, Pfizer's partner in its vaccine, is down 66.3% from its peak. Or, relative to the Nasdaq, down 63.5%
Moderna is down 68.8% from its peak. Or relative to the Nasdaq, down 66.1%
Novavax is down 72.5% from its peak. Or relative to the Nasdaq, down 71.4%
We can argue all we like, but the markets have spoken.
