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Pfizer CEO Albert Bourla sold $ 5.6 million worth of shares on Monday – on the same day he said his coronavirus vaccine and that of BioNTech were showing 90% effectiveness in preliminary results, which saw the company’s stock jump almost 8%.
Between the lines: Selling stocks is perfectly legal thanks to a predetermined plan called the 10b5-1 rule, but the outlook is not great. A Pfizer spokesperson did not add new information in a statement, saying the sale was part of a predetermined plan created in August.
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