Equity Monday: Vaccine news scrambles the stock market, shakes up startups

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 9 November 2020

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

here's what's on today's show: Joe Biden was elected President and the stock market is not mad about divided government. Positive vaccine news sent many stocks sharply higher this morning, but not all. Some pandemic-favored tech companies instantly dropped double-digit percentage points of value. Esign raised $151 million, showing strength in the Chinese startup market, and the esignature space. And this neat Series B for Cellwize caught our attention this morning. Finally, a warning. The stuff that is changing lately may begin to change a bit less. We've lived in the pandemic economy long enough now that it's hard to recall what life was like before. But, we'd best start remembering as there's a lot that is going to change in the next few quarters. This has been a wild to start the week, but with good news. I suppose a vaccine was always going to eventually make it to this step, but, that said, the United States is seeing record COVID-19 cases today. So mask up and let's get as many of us across the line as we can.

Transcript

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0:00.0	Hello and welcome to Equity Monday for November 9th, 2020.
0:14.0	Hope you have some coffee.
0:15.0	There is a lot to get through.
0:16.2	It is a busy and active morning.
0:18.2	Now, some of this you already know, but here is what is driving the news this morning.
0:22.8	Over the weekend, major domestic media companies predicted that Joe Biden will be the
0:27.1	next American president.
0:28.1	I know, I know, you know.
0:30.1	The stock market, however, seems to approve of a Biden administration and a possibly belligerent divided Congress.
0:36.0	The bet here is that taxes won't really change much with government not being in one set of hands.
0:41.2	For technology itself, a Biden presidency may have some benefits, including a, you know, more favorable
0:46.2	than net neutrality perspective.
0:47.4	We'll see.
0:48.4	My parent company might not be stoked about that one, but what can you do? And this morning news that a vaccine
0:53.7	managed to put a 90% effective rate on the board and could start rolling out in the
0:57.9	millions of doses by the end of this year up into the entire stock market.
1:02.1	More about that in just a moment. But before we dive into
1:04.6	the weekend, do make sure that you are following the show at EquityPOD on Twitter and
1:08.8	myself, where I go by at Alex if you would like. And with that, let's begin.
1:15.0	All right, now turning to the weekend,
1:17.0	anyone betting that a Biden presidency would lead to a stock market swoon or sell-off or collapse that it just weren't right, at least not yet.
1:24.8	The stock market does not appear to be too concerned that a moderate Democrat is heading to the White
	...

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