Pfizer stocks soar in pre-opening trading on Covid-19 vaccine news

Pfizer. Credit: Reuters Photo

Pfizer stock surged higher Monday prior to the opening of Wall Street trading after the company announced its vaccine is "90 percent effective" against Covid-19 infections.

The news cheered markets worldwide, especially as coronavirus cases are spiking, forcing millions of peple back into lockdown.

Also read: Wall Street breaks records at open on Covid-19 vaccine news; Dow Jones climbs over 5%

Pfizer shares jumped 15 percent around 1355 GMT after Pfizer and BioNTech announced Monday morning that ongoing Phase 3 trials showed the success of the vaccine, in the last stage before it can seek approval from authorities to distribute the preventative.