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Data: Yahoo; Chart: Axios Visuals

Sports stocks surged on Monday after Pfizer announced promising, though early, findings about the effectiveness of its COVID-19 vaccine.

Details: Live event stocks, which got crushed in the spring when sports and concert venues were shut down or left empty, were some of the biggest gainers.

  • Live Nation, which owns Ticketmaster, jumped 23% midday to $68.87 โ€” its largest one-day advance in at least 12 years. It closed at $64.36 (+14.85%).

The other side: Sports-related companies that benefit from people staying inside tumbled.

  • Take-Two Interactive, which publishes the "NBA 2K" video game franchise, sank more than 8%.
  • Collectors Universe, which saw its stock price jump this summer thanks to the trading card boom, plunged 10%.

The state of play: Pfizer says its vaccine was effective in over 90% of uninfected clinical trail patients.

  • Still, "in the beginning, it is clear that there will be more limited distribution," CEO Albert Bourla said on Monday's Axios Re:Cap podcast.
  • "50 million doses is 25 million people globally. Even if half goes to the U.S., that means that it's going to be 12 million people that we can protect in the next 1.5 months."
  • "Very important protection, but still a small part of the population."

The big picture: Investors spent Monday buying into areas like live events and selling off hunker-at-home companies, "but the future is most likely to be a mixture of the old and the new," Axios' Dan Primack writes.

The bottom line: The Pfizer vaccine is a giant and welcome development, but it's not a silver bullet.

๐ŸŽง Listen: Full Bourla interview (Axios)

Go deeper

11 hours ago - World

Putin says Russia will begin large-scale COVID-19 vaccination next week

Photo: Sean Gallup/Getty Images

Russian President Vladimir Putin said Wednesday that he has directed officials to begin large-scale vaccination against COVID-19 as early as next week, according to state media.

Why it matters: Russia, which has the fourth-largest coronavirus caseload in the world with more than 2.3 million infections, would be the first country to begin mass vaccination. Experts have criticized the lack of scientific transparency around the vaccine and the haste with which the Kremlin approved it.

Dec 1, 2020 - Health

European regulators to assess first COVID-19 vaccine by Dec. 29

Photo: Maxym Marusenko/NurPhoto via Getty Images

The European Medicines Agency (EMA) will meet by Dec. 29 "at the latest" to decide if the coronavirus vaccine developed by Pfizer and BioNTech is safe and effective enough to be approved, the agency announced on Tuesday.

The state of play: Pfizer and BioNTech have already submitted their vaccine for emergency authorization with the U.S. Food and Drug Administration, as well as in the U.K., Australia, Canada and Japan, per AP.

Updated Nov 30, 2020 - Health

Key information about the effective COVID-19 vaccines

Illustration: Sarah Grillo/Axios

The race for a COVID-19 vaccine is ramping up, with three major candidates now reporting efficacy rates of more than 90%.

Why it matters: Health experts say the world can't fully return to normal until a coronavirus vaccine is widely distributed. But each potential vaccine has its own nuances, and it's likely that multiple vaccines will be needed in order to supply enough doses for universal vaccination.