Judging by the market reaction to Celgene's (NASDAQ: CELG) third-quarter results, you'd think one of the Four Horsemen of the Apocalypse just rode down Wall Street. Or maybe two of them did.
Celgene missed revenue expectations. The biotech reduced its full-year 2017 outlook. It lowered its 2020 projections.
All of that was bad news, for sure, but it would make a lot of sense for investors selling Celgene stock like it was radioactive to stop and take a deep breath. Instead of panicking, I recommend paying close attention to one thing stated by Celgene's management in the company's third-quarter conference call.
Source: Fool.com