Quick Bucks

November 16, 2020

 

There are many theories about this pandemic, ranging from "an act of God" to a giant conspiracy.
My thinking is more mundane, looking at the downside consequences, for some - us, to the upside for many others:
Like Pfizer and Moderna stock traders.
These two pharma giants have just announced the development of vaccines that are supposed to save our hides down the road.
Public announcements have been made about the incredible success of vaccine trials by both companies (90% and 94.5% effective, respectively)
And Lo and Behold! Pfizer's share price increased from $36.40 on Friday November 6 to $39.20 on Monday, November 9. Likewise, Moderna's share price of $89.39 on Friday, November 13 went up to $100.38 today, Monday November 16 at 9:30 am.
So, if you or I had some foreknowledge of announcements to be made by these companies, we could have turned ourselves into millionaires over this weekend by buying shares last week and selling them this morning.
And you can bet your bottom dollar on the fact that a lot of people did just that.
The eagerness of the management of these companies to let the cat out of the bag, speaks to their cravings to make a quick buck, playing on people's fear of the virus.

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