On Nov 16, just hours after US biotech firm Moderna Inc announced that the ongoing Phase Three of its Covid-19 vaccine trial showed that its drug was 94.5% effective, global home-sharing giant Airbnb Inc filed its S-1 initial prospectus with the Securities and Exchange Commission, which is regarded as an intention to undertake an IPO.

The timing could not have been better. A week earlier, pharmaceutical giant Pfizer Inc announced that the Phase Three results of its own vaccine showed 90% effectiveness. Although Covid-19 cases are surging again as the pandemic’s second wave spreads across Europe and North America, threatening stricter lockdowns that could further disrupt their economies, the imminent arrival of vaccines spurred global markets to new heights this past week.

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