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Earlier beaten down travel stocks jumped on Friday, after Merck (MRK) announced that their Covid pill molnupiravi reduced hospitalizations by about 50% in mild to moderate Covid-19 cases.
Merck plans to apply to the FDA for emergency use authorization, which could come by the end of the year. Pfizer (PFE) and Roche (RHHBY) are also expected to reveal data for their own Covid outpatient treatments soon.
Widespread availability of anti-viral pills and treatments for Covid, together with vaccines, would help transform it from a deadly pandemic to an endemic that is treatable even though it appears that the virus could stay with us forever in some form or another.
Travel and tourism stocks also benefitted after the Biden administration announced they would ease travel restrictions for vaccinated foreigners. Many investors see value in the sector, which was hard hit by the Delta resurgence this summer.
However, the space could see some volatility and business travel, an important source of revenue for the sector, may not return to pre-pandemic levels soon.
The U.S. Global Jets ETF (JETS) invests in US and non-US airline companies and operators. The ETFMG Travel Tech ETF (AWAY) provides exposure to technology companies in the global travel and tourism industry. The Defiance Hotel, Airline, and Cruise ETF (CRUZ) holds airline, hotel and cruise stocks.
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Roche Holding AG (RHHBY): Free Stock Analysis Report
Pfizer Inc. (PFE): Free Stock Analysis Report
Merck & Co., Inc. (MRK): Free Stock Analysis Report
ETFMG Travel Tech ETF (AWAY): ETF Research Reports
U.S. Global Jets ETF (JETS): ETF Research Reports
Defiance Hotel, Airline, and Cruise ETF (CRUZ): ETF Research Reports
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