What happened Shares of Party City Holdco (NYSE: PRTY) jumped as much as 17.4% in trading Friday as more good news was released about a COVID-19 vaccine. Shares closed the day up 10% and are getting near a 52-week high. So what Pfizer today became the first company to apply for Emergency Use Authorization on its COVID-19 vaccine, and entertainment stocks responded positively as a result. This follows news yesterday that AstraZeneca's vaccine has a positive response from older adults. Image source: Getty Images. This news isn't exactly surprising, but it starts the clock on when people can begin getting the vaccine, and we could see tens of millions of people in the U.S. vaccinated by the end of the first quarter of 2020. In theory, that should allow for more gatherings, which would in turn be good for Party City's operating results. Now what There's no real difference in the health environment or in the operating condition of Party City today than there was yesterday, so I don't see a reason to change your investment thesis. But the more data we get about vaccines, the more positive investors seem to be that the pandemic will quickly be put in check. That may be the case, but it'll be many months before a consumer discretionary business like Party City gets back to anything like normal. 10 stocks we like better than Party City HoldcoWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Party City Holdco wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source