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Why Pfizer Shot 4% Higher Today

By Eric Volkman – Aug 3, 2021 at 4:23PM

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New York City introduces a sweeping vaccination mandate, as authorities struggle to keep the coronavirus at bay.

What happened

Tuesday was another chapter in the Resurgence of Coronavirus Stocks story. One of the leaders of that clutch of companies, Pfizer (PFE -0.35%), rose to close 3.4% higher on the day, easily eclipsing the gain of the S&P 500 index. As has been commonplace in recent days, events are pushing the U.S. and the world to administer more vaccine doses.

So what

With vaccine reluctance still quite commonplace in various pockets of the U.S. while the delta variant continues to spread, authorities are trying to batten down the hatches. Tuesday morning, New York City Mayor Bill de Blasio announced that the municipality is mandating proof of at least one dose of vaccine for people both working at and frequenting a big list of businesses. Additionally, city employees must be vaccinated or undergo weekly testing.

"If you want to participate in our society fully, you've got to get vaccinated," he said in a news conference covering the subject. "It's time."

Child getting a vaccine from a medical professional.

Image source: Getty Images.

Pfizer is, famously, a purveyor of one of those vaccines: BNT162b2, which it developed with German biotech BioNTech. Since the two-dose jab received an Emergency Use Authorization (EUA) from the FDA last December, in many jurisdictions it has been the go-to shot. Only two other vaccines (from Moderna and Johnson & Johnson) have received EUAs. None has yet been granted full approval from the regulator.

Now what

COVID-19 infections and fatalities continue to rise, at worryingly sharp rates in various locales. Pfizer is going to remain a big weapon in this wearying fight.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson and Moderna Inc. The Motley Fool has a disclosure policy.

Stocks Mentioned

Pfizer Stock Quote
Pfizer
PFE
$50.73 (-0.35%) $0.18
Johnson & Johnson Stock Quote
Johnson & Johnson
JNJ
$178.78 (-0.06%) $0.10
Moderna Stock Quote
Moderna
MRNA
$175.93 (-3.52%) $-6.42
BioNTech Se Stock Quote
BioNTech Se
BNTX
$166.71 (-1.78%) $-3.03

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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