I bought this stock two months ago based on good upside potential-- promising products in pipe line, solid fundamentals, etc. I don't understand the wild swings up and down. This is not some little momo trading stock. What gives?
When volatility sweeps the markets there are not too many stocks that I can think of that haven't seen huge swings. Exxon has dropped 10 points in less than a month. MO has had 5 point drop in the same time. Abbott saw it's diagnostics deal with GE fail to materialize. The prospect of a successful deal had caused a big run up in the price. When the deal fell through ABT price dropped. Dollar stengthened the other day and multinationals like ABT dip that day. Add to that the general volatility in the market and you have a partial answer.
Abbott trades at 43 times earnings and is up more than 12% YTD. Thus the volatility. I have owned Abbott for 24 years and had nearly a 200% increase plus dividend increases. Two months is the blink of an eye for the long term investor. Abbott will prevail.