Why Novo Nordisk Stock Eked Out a Win on Monday
Wegovy and Ozempic maker Novo Nordisk (NYSE: NVO) saw its stock price tick up slightly on Monday, on a media report about the possible entry of an activist investor. Market players cautiously bid the shares a little more than 1% higher on the news. Although this wasn't a giant gain, it was sufficient to top the S&P 500 index's basically flat-line performance. Citing unnamed "people with knowledge of the details," the Financial Times reported Monday that London-based activist hedge fund Parvus Asset Management is accumulating stock in Novo Nordisk. The FT's sources said that the goal is to influence the company's choice of CEO, as its longtime leader Lars Fruergaard Jørgensen stepped down from the post last month. A replacement has not yet been found. Image source: Getty Images.Continue reading
Wegovy and Ozempic maker Novo Nordisk (NYSE: NVO) saw its stock price tick up slightly on Monday, on a media report about the possible entry of an activist investor. Market players cautiously bid the shares a little more than 1% higher on the news. Although this wasn't a giant gain, it was sufficient to top the S&P 500 index's basically flat-line performance.
Citing unnamed "people with knowledge of the details," the Financial Times reported Monday that London-based activist hedge fund Parvus Asset Management is accumulating stock in Novo Nordisk. The FT's sources said that the goal is to influence the company's choice of CEO, as its longtime leader Lars Fruergaard Jørgensen stepped down from the post last month. A replacement has not yet been found.
Image source: Getty Images.
