Why AbbVie Stock Tanked in March
Shares of AbbVie (NYSE: ABBV), a blue-chip biopharma, fell by a staggering 11.1% in March, according to data from S&P Global Market Intelligence. This large-cap biopharma thus lost approximately $20 billion in market capitalization last month.
On the bright side, AbbVie's stock did perform modestly better than both the Dow Jones Industrial Average and the S&P 500 in March. What's more, AbbVie's shares have also lost less ground through the entirety of the first quarter of 2020 than all of the major U.S. stock indices.
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Source Fool.com
