With the first COVID-19 vaccine now launching in the U.S., some investors are looking for ways to profit from a brand-new multibillion-dollar market. In this Motley Fool Live video recorded on Dec. 9, 2020, Healthcare and Cannabis Bureau Chief Corinne Cardina and Fool.com writer Keith Speights discuss three critical things to know before you buy COVID vaccine stocks.

Corinne Cardina: Awesome. I'm going to ask you a summarizing question from our time here today, and then we'll get to a couple of these Slido questions. What are three investor takeaways from everything we've discussed and the upcoming two weeks with the FDA advisory committees happening that you would share as tips for investing in the coronavirus vaccine space?

Keith Speights: Well, a country music song comes to mind. First, Kenny Chesney, country singer, had this hit years ago called "Don't Blink." That's probably the first takeaway.

Corinne Cardina: I love that song.

Keith Speights: Yeah. It's a really good song if you like country music. Yeah, investors, don't blink. The dynamics are changing rapidly.

Corinne, what you and I talked about last week is different than what we're talking about today because of news. What we'll be talking about in the next few days is going to be different because of the FDA advisory committee meeting tomorrow. So don't blink. Things are changing and there could be some surprising changes along the way. So that will be the first thing.

Second, I would say, just understand your risk tolerance. Some of these are biotechs that have vaccines, the biotechs don't have any products on the market yet, they are not profitable. They might not be suited for every investor. Some investors might be better off going with Pfizer (NYSE:PFE) or AstraZeneca (NASDAQ:AZN).

Then finally, just look at the big picture. Don't just focus on these companies' COVID vaccines. All of them have something else to offer, whether it's other drugs on the market, like Pfizer, or if it's other promising pipeline candidates, like a Moderna (NASDAQ:MRNA) or a BioNTech (NASDAQ:BNTX). So look at that big picture and don't just hone in just on the coronavirus opportunity.

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