It turns out that the CEO of Pfizer timed the announcement of their Covid vaccine to correspond whith a pre-scheduled order to sell most of his stock in the company.
This is not the action taken by someone who has faith in the long term prospects of this product.
Given that the product needs to be shipped at -70°C (-94°F), and this technique has ever used in humans before, I would not go long on Pfizer either:
Pfizer CEO Albert Bourla sold 62% of his stock on the same day the company announced its experimental COVID-19 vaccine succeeded in clinical trials.
The vaccine announcement sent Pfizer's shares soaring almost 15% on the day.
Bourla sold 132,508 shares in the company at an average price of $41.94 a share, or $5.6 million total, according to filings registered with the Securities and Exchange Commission. The 52-week high for Pfizer's stock is $41.99, meaning Bourla sold his stock at almost its highest value in the past year. His stock sale was carried out through a routine Rule 10b5-1, a predetermined trading plan that allows company staff members to sell their stock in line with insider-trading laws. Bourla's sale was part of a plan adopted August 19, the filing showed. He continues to own 81,812 Pfizer shares.
Am I being too paranoid in thinking that the promise of this vaccine is yet another over-hyped Covid treatment being hyped for the personal benefit of senior management?
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