Why Pfizer Rose While the Market Sank on Wednesday

In contrast to the broader stock market and many fellow healthcare companies, Pfizer (NYSE: PFE) stock had a fine Wednesday. The high-profile pharmaceutical giant's shares coasted more than 3% higher while the S&P 500 index slumped by nearly 0.3%. There were several reasons why Pfizer managed to float above the market that day.

Pfizer has numerous tailwinds going for it, not least its continued leading position in the fight against COVID-19. The company's Comirnaty vaccine, developed in partnership with German biotech BioNTech (NASDAQ: BNTX), remains a go-to jab at a time when the weather is getting colder and case numbers are rising.

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Source Fool.com