- With news that an early trial of Moderna's COVID-19 vaccine yielded promising results, investors are betting that consumers will eventually feel confident enough to go shopping in-person at malls and shopping centers.
- Open-air shopping centers may bounce back first as shoppers may feel less at risk than in an enclosed mall.
- Even without a vaccine, a number of states are allowing some non-essential businesses, including many retailers and restaurants, to open with social distancing measures.
- Among the biggest gainers: Brixmor Property (BRX +17.1%), SITE Centers (SITC +19.9%), EPR Properties (EPR +13.1%), Kimco Realty (KIM +13.2%), Whitestone REIT (WSR +13.7%), Macerich (MAC +13.4%), CBL (CBL +11.8%), Simon Property Group (SPG +11.0%), and Federal Realty Investment (FRT +10.6%).
- Credit card issuers also climb: Alliance Data Systems (ADS +14.1%), Synchrony Financial (SYF +8.1%), Capital One (COF +7.4%), Discover Financial (DFS +6.8%), and American Express (AXP +6.8%).