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Your CEO Pfizer, Dr. Albert Bourlasold millions of dollars worth of company stock the day it was ad that the vaccine is being developed in cooperation with the German BionTech it is 90% effective against coronavirus.
Pfizer and BionTech shares they got together” after the positive news. The American company had an increase of 8% on Monday and the German company even more, with profits of 15%.
According to CNN, Burla sold 132,508 Pfizer shares at $ 41.94, for a total of $ 5.57 million.
A Pfizer spokesperson told CNN Business in an email that the transaction took place because the company’s stock had reached a predetermined price level set by Bourlas on August 19.
When asked if Pfizer and Burla had considered canceling the sale of the shares, so as not to give the impression that they were “capitalizing on” the good news, the spokeswoman said: “These are predetermined plans administered by an external stock manager.”
Another Pfizer official, the executive vice president Sally suzman, also sold shares on Monday as part of a predetermined plan. According to CNN, the transaction involved 43,662 shares at $ 41.94, with a total value of $ 1.8 million.
Many executives sell stocks at predetermined intervals to diversify their portfolios. However, they can delay sales to avoid coinciding with emergencies that can boost the company’s stock.
Burla told CNN’s Sanjay Gupta that he learned of the vaccine test results on Sunday, a day before they were released.
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