Pfizer vaccine success opens a hot stock-market trade
The news about Pfizer and BioNTech’s covid-19 vaccine has spurred a speculative frenzy in a relatively niche corner of Asia’s stock market.
In South Korea, freezer and cooling circulator maker Daihan Scientific Co. and deep freezer supplier IlShinbiobase Co. rallied further after surging as much as 30% on Tuesday. In Japan, kitchen refrigerator maker Hoshizaki Corp. has added almost 10% over the past two sessions, while peer Fukushima Galilei Co. rose the most intraday in more than two years on Wednesday. Over in India, Snowman Logistics Ltd. was up again after jumping as much as 15% on Tuesday.
Unlike regular vaccines, Pfizer’s messenger RNAbased shot must be stored at an ultracold temperature of around -94 degrees Fahrenheit (-70 degrees Celsius) to keep it from going bad. While logistics firms around the world operate cold chains, they run in nothing like those temperatures.