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Why Pfizer Stock Bolted Higher in July

TheMotleyFool

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Why Pfizer Stock Bolted Higher in JulyPhoto, wide shot, wide-angle lens, Medical device manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/3a7f6312-1eee-4702-9005-93cc1e62f970.png

Mega-cap pharma stocks rarely surge by double digits over just a 30-day period. But that's exactly what Pfizer's (NYSE: PFE) stock accomplished during the month of July.

Despite facing falling sales for a host of former blockbuster medicines and the impending spin-off of its legacy products unit, Pfizer's shares gained an astounding 17.7% in value last month, according to data provided by S&P Global Market Intelligence. The pharma giant thus tacked on a remarkable $33 billion to its market cap last month.

Image source: Getty Images.

Source Fool.com

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