The end of 2020 has some bright spots that will certainly lead into 2021. A year that has been unpredictable and incredibly different has some light at the end of the tunnel.
Not only has McDonald’s announced the return of the McRib, but in vastly different and more urgent news the U.K has approved the Pfizer Coronavirus Vaccine, becoming the first western country to do so. The Vaccine will begin distribution next week. The British company and giant Cineworld, which owns Regal in the U.S has already seen its stock hit a five month high with this vaccine announcement. Just the notion of a return to the movie theaters has people excited.
According to THR, Cineworld’s stock rose to £0.64 ($0.86), it’s highest in months. While this is certainly not great, pre-pandemic the stock was around £2.20 ($2.95), it is still a sign of hope in the U.K. Though, most of their business comes from Regal theaters, which are all but closed in the U.S.
This is not the only good news for Cineworld in the last week as they recently acquired a $450 million debt facility and $750 million in extra liquidity to help the company stay afloat. With the latest vaccine announcement, Cineworld looks to have rode the wave through the pandemic.
While the vaccine will take a while to distribute to the general public, and is not a cure for COVID-19, it will hopefully bring things back to normal in some way in early 2021. The U.K was in the midst of a second lockdown that is supposed to be lifted on December 2, the day this article is being written. Reportedly COVID cases fell 30% during this time, according to CNN.
Either way all of this news is certainly good, even if you don’t like the McRib.