Pfizer CEO dumped 62% of his stock the day the vaccine was announced

Report

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.

Recall when Moderna supposedly had their vaccine breakthrough earlier this year, which ultimately turned out to be a fail... their CEO and executives also dumped massive shares

The optics on this aren't good... In fact, when combined with the revelation that Pfizer was urged in September to hold off on any authorization of their vaccine until November, it appears very likely that the CEO knew when he made his pre-filing with the SEC that his stock sales would drop commensurate with Pfizer's announcement. Further, that massive stock dump would seem to indicate that he doesn't expect the stock values to get much higher beyond that announcement... meaning the vaccine may be flawed and Pfizer knows it.

a reply to: burdman30ott6

And? Legally he is allowed to do this. He is well aware of any of his stock sales are going to be public knowledge. Because he is CEO does that mean he cannot buy low and sell high?

Why wouldn't he take the opportunity to cash out on one of the biggest announcements in recent medical history. Is he somehow in some dark pedophile cabal because of this? Is that where you are going.

Another /yawn post

a reply to: burdman30ott6

I like your idea.

It could also be he just wanted to make some bank while the stock was high. Idn.

a reply to: mzinga

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.

In the Op's source.

a reply to: mzinga

Legally he is allowed to do this, but as I said the optics of it are concerning. If your company is developing the silver bullet to end a pandemic, wouldn't you expect your stock prices to continue to soar right up to the moment when the actual vaccine is being widely manufactured and distributed? Also, as I linked above, Moderna's CEO did this same stunt and it turned out the Moderna vaccine wasn't going to be a silver bullet and failed in further trials.

Is he somehow in some dark pedophile cabal because of this? Is that where you are going.

Are you OK? Comments like this would seem to indicate that no, you are not OK.

a reply to: burdman30ott6

He still has 81,000 ish shares, so, ~$3.4 million worth at current value, he could just be gambling the stock market like people do.

Probably has more to do with the projected Biden win and the obvious tanking of the economy/stock market that will follow.

a reply to: burdman30ott6

Red Flag.

Very smart financial move

originally posted by: burdman30ott6
a reply to: mzinga

Legally he is allowed to do this, but as I said the optics of it are concerning. If your company is developing the silver bullet to end a pandemic, wouldn't you expect your stock prices to continue to soar right up to the moment when the actual vaccine is being widely manufactured and distributed? Also, as I linked above, Moderna's CEO did this same stunt and it turned out the Moderna vaccine wasn't going to be a silver bullet and failed in further trials.

Is he somehow in some dark pedophile cabal because of this? Is that where you are going.

Are you OK? Comments like this would seem to indicate that no, you are not OK.

I think that many companies are going to get this vaccine, so dumping it right after being the first to get it was probably wise. Stocks will start to drop when more companies come out and say their vaccine is effective too, I would dump my stock if I were them, it will go down when other companies release their vaccine effectiveness. Also remember, this release has not been verified yet, they will have to get their research peer reviewed within the next two weeks or so. It may be they will lose an edge in the peer review.

a reply to: burdman30ott6

I've been wondering why Pfizer stock has tanked since this vaccine hype has been going through the market.

originally posted by: Atsbhct
a reply to: burdman30ott6

He still has 81,000 ish shares, so, ~$3.4 million worth at current value, he could just be gambling the stock market like people do.

Betting hard against himself. Do you get paid for these posts?

If he is just "playing the market" it's just as likely he knows it's likely to not be completely effective or have some serious side effects. I'd say he obviously doesn't believe it will hit this high in the next 52 weeks

originally posted by: Atsbhct
a reply to: burdman30ott6

He still has 81,000 ish shares, so, ~$3.4 million worth at current value, he could just be gambling the stock market like people do.

LOL That’s chump change to people like him.

I’m curious what he told his shareholders? You know they’re going to want an answer.

a reply to: burdman30ott6
why not wait till it hits ceiling then sell?

Sell high - buy low

Buy low - sell high

In the simplest terms how you make money and work the stock markets

Having insider knowledge, a huge tranch of shares that could influence prices and an obvious advantage of information release, then yes for sure you’re in a good position to make money.....


All that aside perhaps it was all innocent and all he wants and needs is funding for the next ‘Super yacht’.....


MR

a reply to: mzinga

Any time anyone has ever made the argument

"Can't they buy low and sell high?"

In regards to a CEO stock dumping, it has pretty much always been nefarious or pre-ceding "bad news".

So, really, it looks even worse when you say that immediately.

originally posted by: mtnshredder
I’m curious what he told his shareholders? You know they’re going to want an answer.

Probably automated, sell x number of shares at specific price (could be several stages), buy when stock drops below a certain point.

a reply to: Archivalist

With so many people now becoming day traders and watching the markets fluctuate down to the half a cent this sort of stunt will not go unseen. And it'll only become harder for these situations to be manipulated. Thing is, will anything happen these guys? Nope...