Novo Nordisk Shares Rebound Slightly After Steep 33% Drop

Novo Nordisk's U.S.-listed shares edged higher in recent trading, attempting to stabilize after a brutal week that saw the stock plunge 33%. The sell-off was triggered by a reduced full-year outlook and CEO transition, prompting Wall Street downgrades.

The pharmaceutical giant has now lost two-thirds of its value since June 2023, battered by competitive pressures from Eli Lilly's weight-loss drugs and setbacks in next-generation obesity treatment trials. Trading volume surged during last week's decline, signaling strong institutional selling pressure.

Technical analysts are watching key support levels at $36 and $29, with resistance expected NEAR $60 and $78. The stock's extended downtrend shows no immediate signs of reversal as fundamental challenges persist.