Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)
Alexion Pharmaceuticals is having an incredibly rough day in the market today. As soon as the opening bell rang, the stock found itself in the red. Since the market open, we’ve seen more and more declines, bringing the stock further into the abyss. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to ALXN ahead.
What We’re Seeing From ALXN
As mentioned above, Alexion Pharmaceuticals isn’t having the best of trading sessions in the market today. Early on, the stock was in the red. Unfortunately, throughout the session thus far, all we’ve seen is further declines with little to no attempt at a reversal. At the moment (10:39), ALXN is trading at $112.08 per share after a loss of $19.99 per share or 15.14% thus far today.
Why The Stock Is Falling Apart
As usual, as soon as the CNA Finance team saw that ALXN was heading up through a signal provided by Trade Ideas, we decided to do some digging to see exactly what was causing the movement. In this particular case, it didn’t take long to dig up the story at all. Unfortunately, this seems the be the result of news that some of the upper management team will be leaving.
Recently, we received news that Alexion Pharmaceuticals would be losing not only its CEO, but it’s CFO as well. According to the reports surrounding the topic, both have resigned. Of course, any time we see abrupt changes in upper management, we can expect to see big movement in the value of the stock.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ALXN. Of course, we’re interested to see who will come in to take on the role of CEO and who will take on the role of CFO. Nonetheless, we’ll be watching the story incredibly closely and we’ll be sure to bring you any news as it breaks!
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[Image Courtesy of Public Domain Pictures]