Stock prices soared in response to the emergence of Omicron.
According to a statement by the group. A small handful of investors and executives with Pfizer and Moderna—currently the world's preeminent makers of Covid-19 vaccines—saw over $10 billion in new wealth,
Moderna’s shares skyrocketed after the announcement and settled at $310.61/share on Wednesday 1 December, up 13.61% from $273.39/share since Wednesday 24 November, the day before the announcement. Pfizer's shares rose by 7.41% from $50.91/share to $54.68/share.
Moderna’s CEO, Stephane Bancel, personally became more than $824m richer in the week after the announcement, with the value of his shares rising from $6,052,522,978 to $6,876,528,630. He sold off 10,000 shares for $319 each on 26 November, the day after the variant was announced, cashing out $3.19 million.
At the close of business on Tuesday, Bancel’s shares had grown by $1.7 billion since the announcement, before falling after the company lost a legal dispute over patents.