Why Pfizer shot 4% higher on Tuesday

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

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girl receiving pfizer vaccine

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Tuesday was another chapter in the Resurgence of Coronavirus Stocks story. One of the leaders of that clutch of companies, Pfizer (NYSE: PFE), 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." 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson and Moderna Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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