Pfizer (NYSE: PFE) has been a losing play for investors over the past 12 months. To wit: The drugmaker's stock has fallen by a whopping 28.8% over this period. Part of that decline has been driven by the anticipated drops in sales for its COVID-19 vaccine Comirnaty and the antiviral treatment Paxlovid. However, an underappreciated issue is that investors haven't been viewing Pfizer as a so-called "oasis stock."

Since the start of 2023, investors have shown a magnetic attraction to a select group of companies such as Eli Lilly (NYSE: LLY), Crispr Therapeutics, Microsoft, and Nvidia, causing their shares to dramatically outperform the broader market. The unifying theme across these high-performance stocks has been a connection to some form of exciting new technology like artificial intelligence, gene editing, or weight-loss treatments. 

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Source Fool.com