Leading the vaccine race, Pfizer had the best month in November in the last 30 years. Fresh fears of the Omicron virus had revived market focus on the vaccine producers.
As per news from Bloomberg, the share price of Pfizer rose to $53.62 on Tuesday at 10.20 am New York Trading, up by 2.3%. The stock is close to 22% gain in a month, the highest since 1991.
So far, the stock has already gained about 46% this year, and after adding the dividend, the return to investors is more than 50%.
The company which manufactured the world’s best-selling coronavirus vaccines has spurred to new heights this week as investors looked for new booster shots to counter the Covid-19 variant.
According to Chief Executive Officer of Pfizer, Albert Bourka, the company is racing ahead to test its new vaccine to protect against omicron, and if required, it can develop a booster shot in the next 100 days.
Pfizer was the first pharmaceutical company and BioNTech SE, its partner, to get a nod from the U.S. authorities for the Covid-19 vaccine. It is also awaiting a regulation update on a pill developed for treating early cases of Coronavirus. Their oral medication for the virus so far worked better than a similar medicine from Merck & Co.
According to reports from Fidelity, data revealed that retail traders were net buyers of Pfizer stock on Tuesday. This renewed enthusiasm for the Pfizer stock comes after the day traders had sold off their Pfizer holdings in October as the pandemic situation was getting better.
