Any thoughts on where NVO goes from here?
I expect a long dry spell followed by a slow recovery once/if that new diabetes drug is approved. Of douse, they could buy out MannKind for the inhalable insulin.
I just got into NVO Friday about midday after it took a large hit so I may not be the best source of info regarding its prospects. I felt when I bought it at 161.57 that it was a great entry point because it was just completing a head and shoulders pattern on the charts, appeared to have pretty good support at that level. After doing my DD, I felt it's a solid company both past and present - the future also looks great. Never really noticed this stock before, just happened to notice it on the ticker tape on CNBC and thought I should give it a look. Your outlook is pretty gloomy compared to mine. I'm expecting a move forward IF the markets cooperate. Last Fridayt's big drop may have simply been a rebalancing or it might have the beginning of a bigger drop. I'm guessing it was just a one day thing. We'll know Monday, won't we? BTW, I'm a trader looking for a short term bounce. You may be entirely different.
Thanks for your reply. Yes, I am quite different. I sold 1/2 my DDD at its high and put the proceeds into NVO thinking this was as safe as Fort Knox. One day later the FDA decision came out. Its been downhill from there, while DDD has tanked and then recovered to reach new highs.