Wall Street investors are dumping their Moderna and Pfizer stock faster than the world can drop the mandates. Moderna is down 70 percent from its high, while Pfizer is off 19 percent. Former Blackrock Executive and investment adviser Edward Dowd calls for Moderna to go to zero and Pfizer to end under ten dollars per share.
How is this possible given that Pfizer now enjoys record earnings per share and a market capitalization of some $270 billion, making it the 29th largest corporation globally? With nothing but profits in sight for the Pharmaceutical giant, what could be the problem?
After all, in December, a Forbes' headline read, "The Vaccine Maker Can Dominate The Covid Market For Years to Come, Wells Fargo Predicts." In addition to the enormously profitable mRNA vaccines, Pfizer is rolling out potent antivirals like Paxlovid, which could earn $22 billion in 2022.
Compared to the $81 billion in 2021 revenue, the earnings from the vaccines and the antivirals could top $102 billion for 2022, which is music to shareholders' ears. However some are hearing shrieks, and these happen to be Wall Street's finest, the smart money that beats the rest of the herd to the exits like clockwork.
These sophisticated investors make it their business to not go with the conventional wisdom but to do their own research, which often pays spectacular dividends. (more...)
Pfizer & Moderna Investors Run for the Exits
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