Pfizer extends 5-day gain to record territory as US recommends COVID-19 booster shot

louisiana covid vaccine — Debbie Bonnett (left) administers a COVID-19 vaccine at a pop-up vaccination clinic at Maple Leaf Bar in New Orleans on August 14, 2021.
Mario Tama/Getty Images

A new recommendation by officials in the US for COVID-19 booster shots is helping shares of Pfizer hit record highs.
The COVID-19 vaccine distributor extended its 5-day gain to 12% on Wednesday.
Pfizer is now trading well above its record 1999 high, which served as massive resistance for the stock.
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Shares of Pfizer are continuing to soar into record-high territory as the US officially recommends adults receive a COVID-19 booster shot eight months after their second dose.

The US booster vaccination plan aims to better protect Americans from COVID-19 amid an ongoing surge from the Delta variant. Daily cases of COVID-19 have reached an average of 140,000 over the past week, representing the highest levels since February.

The booster vaccine campaign will being September 20 for those that received either the Pfizer / BioNTech or Moderna vaccines.

Pfizer stands to financially gain from the third booster shot, given that its two-dose vaccine regimen has already led to a 61% surge in second quarter revenue of $18.98 billion. Pfizer's partner BioNTech has forecasted strong demand for its vaccine into 2022 and beyond, which investors seem to be buying into.

The pharmaceutical giant was up more than 2% on Wednesday, extending its 5-day gain to 12%. Year-to-date, Pfizer is up 45% as of Wednesday afternoon.

The stock cleared a massive resistance level last week when it surged above its record high of $47.39 reached in 1999. That 21-year base has traders drooling at the potential gains ahead, as decisive breakouts from multi-year bases tend to lead to further price appreciation.

Pfizer isn't the only vaccine maker making its investors rich. Shares of BioNTech and Moderna have soared to record highs as their earnings results showed multi-billion dollar gains. Year-to-date, BioNTech and Moderna are up 337% and 279%, respectively.