2024-01-31 15:07:01 ET
Summary
- Pfizer Inc. stock has experienced a significant decline from its all-time high to the lowest price in over 10 years.
- Despite lower sales from its COVID-19 vaccines, Pfizer's other revenues grew 7% YoY in FY 2023.
- The decline in vaccine sales presents an opportunity for Pfizer to reinvest in research and development and develop new profitable products, which the market isn't appreciating.
- How low can it go? Should you buy, sell, or what?
Written by Sam Kovacs.
Introduction
The pendulum of the market always swings. In just 2 years, Pfizer Inc. ( PFE ) has gone from its ATH to the lowest price it has recorded in over 10 years.
We've been watching it all come down, as by the time February 2022 hit, we had sold all of our Pfizer position, after having accumulated it in 2020 prior to the vaccine announcement (source here and here )....
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For further details see:
Pfizer Is Down 54% From Highs, Now Yields 6.1%