According to ABC-6 News, Philadelphia is banning large public events through 02/2021. I believe the consolidation in the average stock and huge outperformance of the “stay-at-home” theme since June 5th is likely discounting the fear of a 2nd wave in Covid-19. This is a really important point because it addresses a key “what if” for later in the year. The current polling that shows Joe Biden with a meaningful lead may also be pulling forward that fear as well.
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