Pfizer chief exec sold 62% of his shares.

[Jet Cash]

https://www.theguardian.com/business/2020/nov/11/pfizer-chief-sold-56m-dollars-of-shares-on-day-covid-vaccine-was-announced

Does he know something about vaccines that we don't know?

[1715309971]

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[Cnut237]

He knows something about markets that many people don't. Buy the rumour, sell the news.

Does he know something about vaccines that we don't know?

He runs a biopharmaceutical company. So, yes.

[squatz1]

Yeah that's going to invite some scrutiny from lawmakers, bureaucrats, and so on and so forth. I would say there is probably some sort of investigation ongoing regarding that sale.

I do understand it though -- the guy knows that the market is most likely overpricing what is actually happening and that it is a good time for him to get out. Subsequent investigations and testimony in front of Congress, will determine if the sale was predetermined to happen in advance at a set price or if this decision was made only after they knew good news was going to come out.

JetCash what exactly is your claim here? I assume something along the lines of "the vaccine does not work which is the reason for him getting out"

[Jet Cash]

I don't know anything. I just look at actions and try to reflect on the underlying motives.

Vaccination has been performing like the classic bubble, and maybe the Coronas Virus will be the needle that pricks it. They already have alternatives to replace vaccines, so maybe it is time to get out of the business, It is obvious to many that they are worse than natural immunity, and are not really effective. Bitcoin was created as the needle to prick the fiat bubble. Maybe CV was created to prick the vaccine bubble. The real question is - how many new pricks will we see in 2021? There is the housing bubble, the debt bubble and the equities bubble.

Another interesting one is the voting fraud bubble. Will pricking that lead to the end of democracy?

[DaveF]

The 2nd line of the headline said

Pfizer said sale of shares by Albert Bourla was automated under plan set up in August

2 seconds of googling came up with several sources that say.

the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.

I can't access the SEC site from where I am but most things like this are simple to find.

So yeah,

...Buy the rumour, sell the news....

It's how smart people make money buy cheap sell high.

-Dave

[Mauser]

https://www.theguardian.com/business/2020/nov/11/pfizer-chief-sold-56m-dollars-of-shares-on-day-covid-vaccine-was-announced

Does he know something about vaccines that we don't know?

That's quite interesting. I am actually not holding any pharma stocks right now, but wanted to buy some before the vaccine was announced. Unfortunately I was too late the prices are insanely high right now. Also the CEO probably gets a lot of stock options, selling shares might just be a way for him to diversify is own portfolio.

[franky1]

buy low, sell high....
............................ buy low again. keep the profit
... wait for next high... repeat

[BADecker]

Hedging his bet.     

[franky1]

i decided to look into it. and yep there are many SEC documents only a google search away.

so lets explain
in summer he had only 78k shares. and it seems he got 132k shares as a 'bonus' for the vaccine announcement.
in summer he ordered that if he was to get a bonus he would want to sell and take that bonus as cash if share price hit $41.94.

this got triggered in november and those shares sold. (jetcash news is 3weeks old) at $41.94
but.. he is now rebuying , and has so far bought 4k . now sitting at 83k shares instead of his summer 78k share holding

enjoy

[squatz1]

The 2nd line of the headline said

Pfizer said sale of shares by Albert Bourla was automated under plan set up in August

2 seconds of googling came up with several sources that say.

the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.

I can't access the SEC site from where I am but most things like this are simple to find.

So yeah,

...Buy the rumour, sell the news....

It's how smart people make money buy cheap sell high.

-Dave

True, though there was a bit of an issue surrounding WHEN he changed the predetermined parts of his plan. Seems like thesee were updated August 19th of 2020, see here:

On Aug. 19, Bourla implemented his stock-trading plan, according to his disclosure to the Securities and Exchange Commission.

The next day, Aug. 20, Pfizer issued a press release featuring "additional Phase 1 safety and immunogenicity data" and confirming that Pfizer and its German partner, BioNTech, were "on track to seek regulatory review" for its vaccine candidate by October.

"It's wholly inappropriate for executives at pharmaceutical companies to be implementing or modifying 10b5-1 plans the business day before they announce data or results from drug trials," Taylor said.

Nothing to really look at in regards to him setting a price and hope it goes up to that. It'd be a bit of a different conversation if he had changed these predetermined parts of his plan right when he was told about the news. But regulators will most likely look into it and determine if there was any violation here.

[franky1]

Nothing to really look at in regards to him setting a price and hope it goes up to that. It'd be a bit of a different conversation if he had changed these predetermined parts of his plan right when he was told about the news. But regulators will most likely look into it and determine if there was any violation here.

throughout (pre)august->november he didnt have these excess 132k shares. he only had 78k total
he got the extra 132k shares due to a 'bonus' deal for achieving a result which seems to have been in a plan since august. which he requested to cash them out.

he has not sold his original shares.

all i can see is that he got a cash bonus of $55m due to pfizer getting results that the covid vaccine passed safety checks and also preliminary effectiveness results

[coins4commies]

The Pfizer price was not even high when he sold so that accusation doesn't check out.  Hell, the price isn't even high now.  Its up a whopping 5% over the past year.   

[franky1]

The Pfizer price was not even high when he sold so that accusation doesn't check out.  Hell, the price isn't even high now.  Its up a whopping 5% over the past year.   

dividends were only 4%
august price of $36 and a order to sell at 41.94 is 16%
so as a trader i wouldnt hoard for only 4% id buy at 36 sell at 41.94 buy at lower price. rinse repeat.

but in this topics scenario he got a bonus of 132k shares for reaching the vaccine milestone. and he just chose to cash out.
now it appears he is gaining more shares while the price is below 41.94 again.