Every Stock is a Vaccine Stock, Revisited

In May 2020, I wrote a post titled Every Stock is a Vaccine Stock highlighting that the stock market reaction to good vaccine news indicated that vaccines were worth trillions and that most of this value was external to the vaccine manufacturers, meaning that the vaccine manufacturers were under-incentivized. It’s not surprising that when Moderna […] The post Every Stock is a Vaccine Stock, Revisited appeared first on Marginal REVOLUTION.