What happened? Actions from several live event and travel booking companies have arisen today from broad optimism about a potential coronavirus vaccine. Modern clinical stage biotechnology (NASDAQ: MRNA) announced yesterday that it had published an interim analysis of its mRNA-1273 vaccine candidate in the New England Journal of Medicine which showed promising results. The candidate vaccine “induces rapid and strong immune responses” against SARS-CoV-2 without serious side effects. The news increases inventories in the live event and travel booking industries, both of which have been decimated by the pandemic. Here’s how these companies were trading at 1:20 p.m. EDT. So what Many live events such as music concerts and sports have been canceled due to social distancing and safety concerns. Image source: Getty Images. In April, Eventbrite had laid off almost half (45%) of its global workforce with the goal of generating $ 100 million in annualized cost savings as demand increases. The company provided investors with an operational update last month, which showed that paid ticket volumes are starting to recover. This measure increased 33% in May compared with April, although total paid tickets were still down 82% year over year. Eventbrite also raised $ 130 million a few days later with a supply of top convertible tickets. Around the same time as Eventbrite’s announcement in April, Live Nation also announced initiatives to cut costs and raise funds. The company cut executive salaries, while CEO Michael Rapino voluntarily agreed to forfeit his entire salary. Live Nation also created a new $ 120 million revolver for additional financial flexibility. More recently, Live Nation announced new concert-concerts that could allow fans to maintain social distance during musical performances. Rolling Stone also announced last month that the company is asking artists to make various financial concessions in the face of increased cancellations. Image source: Getty Images. Booking Holdings and Expedia also saw sales crash, as discretionary travel stopped. Expedia laid off 12% of its employees in February, near the start of the epidemic, due to disappointing results for 2019. Gross bookings fell 39% in the first quarter, and Expedia earned nearly $ 4 billion in cash in part from Apollo Global Management and Silver Lake. Now what Although there is still a long way to go before a vaccine reaches public consumers, the news gives investors hope that a cure on the horizon could help the world return to normal . “We believe that an effective vaccine or treatment is necessary to make people feel comfortable traveling as they did before the pandemic started,” Booking Holdings CEO Glenn Fogel said at the meeting. last call for results in May. “And even after a vaccine or treatment has been declared safe and effective, we believe it may take some time before there is sufficient supply and distribution to give people and governments the power they need. assurance that people travel freely. ”



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