The Webjet (ASX:WEB) share price raced 18% higher last week // Motley Fool Australia

One of the best performers on the S&P/ASX 200 Index (ASX: XJO) last week was the Webjet Limited (ASX: WEB) share price.

The online travel agent’s shares raced an incredible 18% higher over the five days to end the week at $4.95.

Why did the Webjet share price race higher last week?

Investors were fighting to get hold of travel shares last week after news broke of a potentially effective COVID-19 vaccine.

On Monday US biotech giant Pfizer released the first set of results from a phase 3 COVID-19 vaccine trial. Those results appear to show the initial evidence of its vaccine’s ability to prevent COVID-19 infections.

According to the update, in the first interim efficacy analysis, the vaccine candidate was found to be more…