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Why Novo Nordisk Stock Just Popped

TheMotleyFool

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Why Novo Nordisk Stock Just Popped: https://g.foolcdn.com/editorial/images/855503/glp-1-semaglutide-injector-pens-in-a-box.jpg

Novo Nordisk (NYSE: NVO) is taking investors on another rollercoaster ride.

Last week, shares of the Danish pharmaceuticals stock tumbled as much as 27% on news that compounded pharmaceuticals firm Hims & Hers Health (NYSE: HIMS) would begin selling its own version of Novo's new Wegovy GLP-1 weight loss pill for just $49 per month.

Over the weekend, though, Hims announced it will in fact not sell the knockoff Wegovy pill. Nnow Novo Nordisk stock is bouncing back, up 3% through 12:15 p.m. ET.

Source Fool.com

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