The Promised Corona Vaccine and “Crazy” Stock Jumps … A Stock Market Game?

Ali Awad wrote in the newspaper “Al-Akhbar” under the headline “Corona Vaccine: Hope for Humanity or the Bursa Game?”: “While the world awaits any positive information about a vaccine that should put the Corona virus at risk, the executives of the pharmaceutical companies that work in the research harvest The promised vaccine will receive huge sums of money, benefiting from knowing the stages that this investigation has gone through, and this raises doubts about the results announced by these companies, and if it is only one way of raising their stock prices and making fantastic profits.

Pfizer CEO Albert Burla, for example, sold 132,508 shares of the company at a price of $ 41.94 per share, the day the company announced a result for its vaccine and earned $ 5.56 million in Benefits. US law, under clause 10b5-1 (b) of the US Securities and Exchange Act, is known to punish “insider trading”, that is, when a person of a company has “inside information” that has not yet been announced and, based on it, buys or sells shares. The company. However, the same law, under clause 10b5-1 (c), allows internal trading by company employees without any prosecution, if the employee informs his company in advance that he plans to trade the shares of the company before learning the inside information. When CNN asked Pfizer whether it would cancel the stock trading process that Burla had undertaken, a company spokeswoman responded that “this process is planned and predetermined, and was managed by an outside stock trading official.” That is, Burla used clause 10b5-1 (c), and could not be held accountable to the judiciary. For Burla, Sally Sesman, the company’s deputy CEO, sold 43,662 shares for $ 1.8 million.

Burla said an independent committee reviewed the results of the company’s vaccine and sent him their evaluation last Sunday. After Pfizer announced the vaccine in a statement on Monday, it sold 62% of the shares it owned, after their value rose 8%. This led many analysts to question whether this was the real reason for the company’s announcement of the vaccine results, especially since Pfizer only published a short press release, without any study or research work. ” Read the full article. Press here.