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Pfizer CEO sold $5.6mn of shares after surge in share price due to vaccine announcement.
Though this sale was part of pre-arranged stock sale plan, but the date of sale wasn’t decided earlier. Will it be considered “Insider Trading”, if Mr. Bourla knew of the success of trial of vaccine, a Non-Public Price Sensitive Information (NPPSI) and deferred his pre-arranged stock sale to only after the announcement of vaccine success?
Although i shouldn’t use indecent words, but I can’t help using the same in such cases of gross market manipulation and blatant violation of public trust, let alone insider trading norms…
Pfizer CEO sold out his own stock on the vaccine news day. Can you beat this? Rascals come in so many shapes, colours, sizes and pedigrees
But look at these two things:
1. The sale was pre-planned in the month of August.
2. The amount of sale, it is too low for need of manipulation. It’s pennies for him.