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Jim Cramer Says Stock Market Anticipates 2021 Vaccine 'Glut'

TheStreet logo TheStreet 12/8/2020 Katherine Ross
Jim Cramer wearing a suit and tie: Jim Cramer Says Stock Market Anticipates 2021 Vaccine 'Glut' © TheStreet Jim Cramer Says Stock Market Anticipates 2021 Vaccine 'Glut'

The U.K. has begun distributing the Pfizer and BioNTech vaccine.

90-year-old Margaret Keenan was the first person in the U.K. to receive the first dose of the Pfizer vaccine. The vaccine does require two doses, and the second one is given 21 days after the first.

The Food and Drug Administration in the U.S. could approve the Pfizer vaccine as early as Thursday, and if it does vaccine distribution in the country could begin within 24 hours, according to Health and Human Services Secretary Alex Azar.

Discussing the implications of a vaccine rollout on the market, Jim Cramer said, "I believe a lot of the rallying we have had is in anticipation of a vaccine glut....what's going to happen is the tyranny of the disease is going to end," during TheStreet's daily live show.

"I think we will be traveling, I think we will be doing things, will we be wearing a mask? Yes…but we'll be doing things," Cramer said.

In the video below, Jim Cramer talks Pfizer, Tesla, Apple , Toll Brothers , and more:

Replay Video

And then there's Tesla .

The company said that it will sell around $5 billion worth of shares as it prepares for its S&P 500 debut later this month.

Tesla unveiled the 'at-the-market' offering in a Securities and Exchange Commission that followed data from the China Passenger Car Association showed Tesla shifting 21,604 China-made vehicles last month, nearly double the October total and well ahead of the 11,329 sold in September, thanks in part to a resurgence in consumer demand from the COVID-hit economy.

"There's no doubt about it...it's the greatest story ever told and all they [Tesla] do is take advantage of the fact that people keep buying it up," Cramer said.

Daniel Kuhn contributed reporting to this article.

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This article was originally published by TheStreet.

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