What's Going On With Pfizer Stock Wednesday?

Pfizer Inc PFE shares are trading higher Wednesday, bouncing back after the stock hit its lowest levels in more than 10 years this week. Here’s what you need to know.

What To Know: Pfizer shares were trading at 11-year lows earlier this week, but the stock climbed higher Tuesday afternoon after Ritholtz Wealth Management’s Josh Brown called it the best opportunity in the market on CNBC’s "Fast Money Halftime Report.” Pfizer shares appear to be moving on continued momentum Wednesday.

Brown explained Tuesday that Pfizer went all-in on vaccines during the COVID-19 pandemic and is still recovering from slowing vaccine demand. Pfizer is also lacking near-term catalysts so people are selling it and looking to put money to work elsewhere, he added.

For those looking to buy shares and hold longer term, Brown called it the perfect setup. The company’s recent acquisition of Seagen has “huge potential” in the coming years, he said.

“This company has been around for 175 years. They've had other issues like this … They always find a way to rebuild revenue growth and reorient the company. I don't think this time will be any different so I am a buyer under $30 and we'll see what happens in the coming years,” Brown said.

Brown told CNBC that he increased his position by 50% this week and may look to add more on any weakness. Pfizer shares charged higher on Brown’s comments and are showing strength again on Wednesday.

Don’t Miss: Josh Brown Just Bought This Stock Trading At 11-Year Lows, Paying A 6.5% Dividend: ‘They Always Find A Way To Rebuild’

How To Buy PFE Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Pfizer's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

PFE Price Action: Pfizer shares were up 4.22% at $27.18 at the time of publication, according to Benzinga Pro.

Photo: Kojach from Flickr.