PFE Stock Price: Over 2% Increase Explanation

By Amit Chowdhry ● June 10, 2021
  • The stock price of Pfizer Inc. (NYSE: PFE) increased by over 2% during intraday trading. This is why it happened.

The stock price of Pfizer Inc. (NYSE: PFE) increased by over 2% during intraday trading. Investors are responding positively to reports that the U.S. government will be spending $3.5 billion to buy and donate 500 million doses of the Pfizer coronavirus vaccine to lower-income countries. And the U.S. government is also urging G7 nations to set up a similar program.

This will be the largest vaccine donation ever by a single country. And it was announced before U.S. President Joe Biden met with leaders of the G7 nation. The 500 million doses will be sent to the world’s 100 poorest countries.

“Our partnership with the U.S. government will help bring hundreds of millions of doses of our vaccine to the poorest countries around the world as quickly as possible,” said Pfizer CEO Albert Bourla in a statement.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.