What do you think of today's 20% drop in $NVOstock ? Will you buy?
Novo Nordisk's shares fell sharply today following news that the weight-loss drug CagriSema achieved lower than expected efficacy in trials. I don't have $NVOstock in my portfolio, but I want to focus on this company now.
The company is doing well, but I wouldn't buy the stock as it's a pretty volatile and choppy business. You can see it just on this news alone that one drug will fail and the stock will plummet 20%. I think that's terrible.
I'm just watching the stock for now, but I'll probably buy soon. The numbers are great and the valuation is pretty low right now.
I've already made my purchase today. I had this stock on my watchlist and was just waiting for a better price, so I opened a position today.