This is the true answer: Hedge Fund criminals conspired to short the etf XLV today. If your stock is in an etf, it is impossible to go up against the grain. XLV down 2.29% today. PFE down 2%. PFE has relative strength, going higher.
Management can not recklessly spend our money without affecting value. They have a good thing going
and shareholders are just a tag along.
PFE's pipeline sucks and it fact it has one of the weakest pipelines of all of the major pharmaceutical companies. The patent expiration of some of its key drugs combined with its weak pipeline has placed it in a very vulnerable position. That is the reason why PFE has been trying to merge with other pharmas. Over the last number of years the PFE stock price has done essentially nothing which is merely a reflection of its poor growth potential mainly because it has not brought on many new drugs. Admittedly there are other drug companies, notably Merck that also are facing the patent expiration issue, but PFE is particularly vulnerable. Hate to admit it but it is true.