As vaccine maker Pfizer’s stocks skyrocketed after the company announced that its COVID-19 vaccine was 90% effective, the CEO was busy selling off his company stock, to the tune of 62% of what he owned.
Mandatory SEC forms that Albert Bourla filed show he sold 132,508 shares at an average price of $41.94 — for a total of around $5.6 million. According to ZeroHedge, other vaccine maker insiders, including those at Moderna, also sold tens of millions of dollars in stocks in similar trades when they made progress announcements.
Although officials noted that the timing of any of the trades had to be determined weeks and months in advance, ZeroHedge responded that “it's easier to commit to pre-plan sales of stock when you know you can pump the price by simply publishing a press release.”
SOURCE: ZeroHedge November 11, 2020