Pfizer is an American multinational pharmaceutical and biotechnological corporation. The company was established in 1849 and went public at the beginning of 1968 at an opening price of $0.42. Over the years, the share price of Pfizer has appreciated in several multiples. The Pfizer investors have enjoyed a rally over the years as the price keeps appreciating. The previous all-time high at $44.01 was reached in 2018 and maintained until the price broke out to the upside to new all-time highs in August 2021 and December 2021 respectively. Pfizer was licensed to produce the vaccine as a result of the necessity caused by the spiking cases of coronavirus across the world. Despite the share price of Pfizer going low as $26.37 in 2020, after it reached the all-time high in 2018 at $44.01, millions of persons worldwide got vaccinated with the Pfizer vaccine which must have led to the share price appreciating.
The most recent all-time high of $PFE was reached in November 2021 at $55.83. Some scientists might have been saying that the Omicron variant of the coronavirus is of less concern. Just like many vaccine-producing companies, $PFE’s share price dropped 5.14% yesterday. Despite a few lockdowns across the world and some countries restricting flights from some other countries, there seems to be a correction occurring with the price of $PFE. The share price of Pfizer might drop to $41.93 which is around the previous support level at $41.10, as some scientists have said the Omicron variant is not of major concern.
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