Why Johnson & Johnson Stock Defied the Market Downturn Today
Shares of Johnson & Johnson (NYSE: JNJ) defied the overall market downturn on Thursday, with its shares rising 1.7% higher as of the market close. The big company didn't make any announcements nor were there any other big stories that served as a catalyst. Instead, investors appeared to favor relatively stable stocks such as J&J on a day when small-cap and tech stocks took a drubbing.
After today's gain, J&J's shares are still down around 2.5% year to date. However, that's much better than the S&P 500's nearly 21% decline.
It's not surprising that blue-chip stocks are outperforming the market in 2022, or that J&J rose today while many stocks fell. Investors are more appreciative of the financial stability of the healthcare giant during periods of volatility.
Source Fool.com
