You would think that an FDA approval to give booster shots to millions of new patients would send their stock soaring. It didn’t Pfizer dropped along with the S&P 500 index.
Despite the growth of COVID cases in the US (blue dashed line), Pfizer stock has only gone up by “only” 88% since March 2020. The S&P 500 index rose by 100%.
I under what Pfizer’s performance would be if The Fed wasn’t blowing a hurricane wind at the back of the market.