Why Booking Holdings, TripAdvisor, and Trivago Stocks Skyrocketed Today

Shares of travel-booking and services companies have skyrocketed today on news that Pfizer and BioNTech have made meaningful progress in the development of a potential COVID-19 vaccine. The travel industry has been among the most devastated by the coronavirus pandemic, and the announcement represents a step toward the sector's recovery. Many stocks across the travel industry, including airlines and cruise lines, have popped today on the hope of travel demand returning to normal levels, even though the vaccine candidate is still in clinical trials and not expected to be widely available until late 2021.