Pfizer’s stock has not been removed from the NYSE – Berkshire Eagle

CLAIM: Pfizer has been delisted from the New York Stock Exchange.

THE FACTS: Drug maker Pfizer Inc., which produces a COVID-19 vaccine, has not been removed from the NYSE, a company spokesperson confirmed. Many social media users cited a specific U.S. Securities and Exchange Commission form as proof that Pfizer has been removed from the stock exchange. The form features the text, “NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION.”

“PFIZER delisting from NYSE. How is this not much bigger news? This means they know they will crash!!! Share,” said a tweet that shared an image of the form.

Another tweet posted on Monday states, “Pay attention – this is important: 3/07/2022: Pfizer requests to be delisted from the NY Stock Exchange.”

But the claims are false. The form being shared on social media actually concerns the delisting of a debt security, which is tradeable corporate debt, similar to a bond. The form was filed by the NYSE on March 7.

“The 0.250% Notes due 2022 were euro denominated notes that were paid in full on March 7, 2022 in accordance with their terms and maturity date,” the Pfizer spokesperson wrote, referring to Pfizer’s debt security. “As a result, the 0.250% Notes due 2022 are no longer outstanding and thus are delisted from the NYSE.”

In other words, once the debt is paid off, it is delisted. The spokesperson added that Pfizer’s common stock continues “to be listed on the New York Stock Exchange.” Ludwig Chincarini, a professor of finance at the University of San Francisco, told The Associated Press that corporate debt trading is common, though it typically isn’t conducted in exchanges and is done in the “over the counter market.”

“Companies issue debt all the time because they borrow,” he said. “It’s another form of financing.”

“What happens is the notes matured, they’re done, so the exchange has to remove them and they have to inform the SEC,” Chincarini added. A spokesperson for the NYSE declined to comment. The Securities and Exchange Commission did not respond to the AP’s request for comment.

— Josh Kelety

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