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Why Eli Lilly Stock Just Popped

TheMotleyFool

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Why Eli Lilly Stock Just PoppedPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Eli Lilly (NYSE: LLY) stock bounced back 2.4% by 9:50 a.m. ET Monday after taking a tumble last week.

Shares of the big pharma stock and manufacturer of Mounjaro and Zepbound GLP-1 weight loss drugs sank several percent Thursday after Hims & Hers Health (NYSE: HIMS) announced it would sell an Ozempic lookalike pill to compete with Novo Nordisk's (NYSE: NVO) Wegovy pill -- and with Eli Lilly's Mounjaro and Zepbound injectable weight loss drugs as well.

Over the weekend, everything changed.

Source Fool.com

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