Signal Says Pharma Stock Selloff Should Be Over
Portfolio Pulse from
Amgen (AMGN) shares are attempting to recover after a 7.1% drop due to concerns over its weight-loss drug, MariTide, which reportedly causes significant bone density loss. The stock is holding above $300, suggesting potential for recovery.
November 13, 2024 | 8:45 pm
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Amgen's stock dropped 7.1% due to reports of its weight-loss drug causing bone density loss. The stock is now attempting to recover, holding above $300.
The significant drop in Amgen's stock was due to negative news about its drug, but the stock's ability to hold above $300 suggests potential for recovery. Historical patterns indicate a possible bounce back.
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