Why Novo Nordisk Stock Was Up on a Down Day for the Market
Many investors weren't feeling the holiday spirit on Wednesday, as many titles traded down and led the S&P 500 index to post its worst daily decline since October. But some titles escaped the gloom to close in positive territory.
One was Denmark-based pharmaceutical sector star Novo Nordisk (NYSE: NVO), which ended the day more than 1% higher. A positive story in a major newspaper about the company's leading products was a major reason for the stock's rise.
Obesity treatment Wegovy and its sibling diabetes medication Ozempic are the runaway healthcare industry successes of the moment. An article published Wednesday in the ever-influential New York Times pointed out that semaglutide, the two drugs' active ingredient, is currently being actively investigated for other beneficial effects on health.
Source Fool.com
