FDA’s Approval of Pfizer’s Vaccine to Lift Consumer Confidence

 

Global equity indices responded positively to the U.S. FDA’s approval of Pfizer’s (NYSE: PFE) vaccine.

We believe the approval should boost investor and consumer confidence. Consumer confidence was down prior to this development, amid weaker manufacturing data from the U.S. and China, and rising unemployment in China.

Only three (five last week) out of the 15 hardest hit nations (including the U.S., the U.K., and Germany) experienced higher daily new COVID-19 cases last week.

We believe Pfizer’s approval will result in an increase in vaccination rates.

Last week, shares of both Canadian and U.S. cannabis companies declined 4% despite positive news from both countries. As of August 23, 2021, the Canadian big four LPs were trading at a 70% premium (up from 69% in the previous week) over their U.S. peers

Companies Mentioned:

Sonoro Gold Corp., Kootenay Silver Inc., Latin Metals Inc., Cora Gold Limited , Rockcliff Metals Corporation, Enertopia Corporation,Falcon Gold, Grid Metals Corp., Braveheart Resources Inc., Azure Minerals Limited, Hello Pal International Inc., Diginex Limited, TAAT Global Alternatives Inc., Banxa Holdings Inc., Halo Collective Inc., THC BioMed Intl Ltd., Pure Extracts Technologies Corp.