Pfizer (PFE)

Mar 29, 2022Trade Ideas

After a slight pullback, Pfizer (PFE) may be ready to pop again.

All thanks to new COVID-19 cases.

China just imposed new lockdowns in Shanghai, as the city records some of its highest numbers of new COVID-19 cases. Italy just reported another 30,710 cases on Monday, and about 59,555 on Sunday. France health authorities just said the number of hospitalized COVID-19 patients jumped to 21,073 since early February.

In the U.S., experts are warning the U.S. could see another spike in cases, with some wastewater samples showing an increase in infections. According to the U.S. CDC, as noted by People, “The U.S. is also starting to see an increase of COVID-19 in wastewater samples, a strong early predictor of when the virus is about to spike. Between Feb. 24 and March 10, the presence of COVID-19 increased by 100% or more in 37% of U.S. wastewater sites, according to the Centers for Disease Control’s tracking system.”

With global numbers on the rise, vaccines should see even more demand, potentially sending stocks like PFE to higher highs.


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