Novo Nordisk A/S (ADR) (NYSE: NVO)
Novo Nordisk is having an incredibly rough time in the market today, and for good reason. The CFO of the company made a troubling statement early this morning. Below, we’ll talk about what we’re seeing from the stock, the statement that caused the declines and what we can expect to see from NVO ahead.
What We’re Seeing From NVO
As mentioned above, today hasn’t been a great day for Novo Nordisk in the market. While we’re still incredibly early in the trading session, the stock started in the red and continues to fall. At the moment (10:10), NVO is trading at $34.94 per share after a loss of $6.00 per share or 14.66% thus far today.
Why The Stock Is Falling
As mentioned above, the declines today are caused by a statement made by the CFO of NVO. In the statement, the CFO addressed some challenges and warned of headwinds coming out of the United States. Here’s a key snippet from the statement…
“The market environment in the [US] has become significantly more challenging, we’re only just getting into the storm now…”
As you can see, the statement was a relatively heavy hitting one, leading to concerns with regard to growth and ability to tackle the United States market.
What We Can Expect To See Ahead
Moving forward, I have a relatively bearish opinion of what we’re going to see from Novo Nordisk. At the end of the day, when management of a publicly traded company gives a warning with regard to their own stock, it’s important to listen. NVO was clear about what’s coming. They are having a hard time in the US market (the largest market in the world), and that’s going to lead to headwinds in the stock. As a result, I’m expecting to see declines out of NVO ahead.
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