Pfizer Stokes Retail Curiosity As Stock Rises On Report Of CEO-Starboard Meeting

Shares of Pfizer, Inc. ($PFE) climbed over 3% on Wednesday afternoon, with the stock trending among the top five tickers on Stocktwits.

On Tuesday, the Financial Times reported that Pfizer CEO Albert Bourla is set to meet with activist investor Starboard Value, which recently acquired a $1 billion stake in the company.

The report indicated that Starboard is pressuring Pfizer’s board to take action in reviving its share price.

Bourla, alongside another Pfizer director, is expected to hold talks with Starboard CEO Jeff Smith and partner Patrick Sullivan next week.

The hedge fund has reportedly created an “extensive slide deck” aimed at turning the company around.

Retail sentiment for PFE remained ‘extremely bullish’ (80/100) on Stocktwits, with message volume spiking to ‘high’ levels.

Earlier this week, The Wall Street Journal reported that Starboard had also approached former Pfizer executives Ian Read (CEO from 2010 to 2018) and Frank D’Amelio (CFO from 2007 to 2021) to potentially lead the company’s transformation efforts.

Pfizer’s stock soared during the pandemic, largely due to the success of its COVID-19 vaccine, peaking at around $59 in late 2021.

However, shares have since fallen over 50% as revenue from pandemic-related treatments declined, leaving the company in search of its next major growth driver.

Year-to-date, PFE is up 1.6%, with retail message volume on Stocktwits surging more than 85% in the past week, driven by growing interest in the upcoming talks.

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