Quote:
Originally Posted by Azure
If the vaccine is promising, why would he sell? Once it is being administered to the public and jurisdictions start opening up I'd expect Pfizer to climb, no?
I'm not saying they are lying, but I don't understand why someone well sell, especially if their stock didn't exactly jump like it could have.
Was it timed to sell in advance?
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Executives need to issue their intent to sell in advance to avoid exactly what the CEO is being accused of right now, the news could have also been disastrous. Either way it's a sign of confidence that he sold on the expected good news.
If the CEO expects a bump in price based on the news and thinks it will be positive, and the date of the news is known, why not sell on the expectation?
It's only news because of the timing, but the timing was laid out in advance.