What happened After selling off sharply earlier in the week -- as investors rotated into more economically-sensitive stocks following positive news on the coronavirus vaccine front -- e-commerce stocks rebounded on Wednesday. By the close of trading, shares of PayPal (NASDAQ: PYPL), MercadoLibre (NASDAQ: MELI), and Wix.com (NASDAQ: WIX) were up 4.9%, 6.4%, and 10.5%, respectively. So what On Monday, Pfizer and BioNTech announced that their experimental coronavirus vaccine, BNT162b2, could be more than 90% effective at preventing COVID-19. That led many investors to take profits in shares of e-commerce companies, many of which performed well during the coronavirus pandemic, and buy cyclical stocks that could potentially benefit from a vaccine. E-commerce stocks rallied on Wednesday. Image source: Getty Images. Yet on Wednesday, investors apparently began to remember that the growth of the online retail industry wouldn't come to a halt after the COVID-19 crisis subsides. Many bargain hunters decided to use the recent sell-off to pick up shares of the best e-commerce companies at a discount, driving their price back up in the process. Now what If Pfizer and BioNTech's COVID-19 vaccine proves safe and effective, it could spark a powerful economic recovery. But even if traditional retailers see increased store traffic after the coronavirus crisis eventually subsides, the long-term growth prospects of the e-commerce industry remain stellar. Millions of people made online purchases for the first time during the pandemic. And after enjoying the convenience and savings that e-commerce sites often provide, many of them will continue to shop online. This trend bodes well for companies like PayPal, MercadoLibre, and Wix.com, all of which stand to benefit from the growth of e-commerce. 10 stocks we like better than MercadoLibreWhen 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 MercadoLibre 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 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends MercadoLibre, PayPal Holdings, and Wix.com and recommends the following options: long January 2022 $75 calls on PayPal Holdings. The Motley Fool has a disclosure policy.Source