10-27-2020, 10:01 AM
(10-27-2020, 08:48 AM)crimsonghost747 Wrote: a rare one for me, I actually sold something!
PFE
Such a rare event that it required some explanation.
I entered at around $32 in March, for one I thought the price was super low. And two, well it was the start of a pandemic so doesn't hurt to have more healthcare.
Thought about making it a "real" position for a while, but I wasn't ready to pay much more than $32, so I think I've added to it only once since March. So it's a relatively small position that has appreciated nicely, the spinoff is coming (so the dividend will likely be lowered, unless you plan on keeping the Upjohn shares), and... I might be wrong about this one.. but I think the majority of the vaccine hype is already in the share price.
Significant vaccine profits are illusory. Several companies have committed to selling them near breakeven. It's a goodwill thing apparently. Efficacy standard is only 50% and anyone that hits that goal safely will be approved. I have a substantial PFE position and have been laddering covered calls. I'll be trimmed eventually and the income has been good in the mean time. PFE hasn't grown share price for two decades so holding Upjohn won't be a big difference IMO. About everything in my world is up the same or better than PFE since March so adding back then didn't turn out to be anything special for me.