AMC cinema stock soars 59% before release to market, Live Nation up 14% as Pfizer vaccine news sparks upturn in event action

AMC Entertainment Holdings Inc. beat its AMC shares,
+ 1.22%
soared 59% in pre-market trade on Monday, after Pfizer Inc. PFE,
+ 0.02%
and BioNTech SE BNTX,

said their COVID-19 vaccine candidate was more than 90% effective in preventing the virus in trial participants without prior evidence of SARS-CoV-2 infection. The companies said they plan to submit an Emergency Use Authorization (EUA) to the Food and Drug Administration shortly after crossing safety milestones, which is currently expected by the third week of November. The news sparked a massive rally in Dow YMZ2- futures,
which were last up 1,400 points, or more than 5%, in the hope that a vaccine will be available sooner rather than later and will allow cinemas and other indoor event spaces to allow more customers to enter. Cinemark Holdings Inc. CNK,
-0.66%
stocks are up 20% on the news. Other live event providers have also grown with World Wrestling Entertainment In.c WWE,
+ 3.01%
up 5%, Madison Square Garden Sports MSGS,
-0.97%
up 5% and Live Nation Entertainment Inc. LYV,
-0.69%
up 14%.