It's Too Soon to Buy the Dip in Weight Loss Drugmakers
LLYLilly(LLY) MarketBeat·2024-08-09 19:00

Obesity drugmakers like Eli Lilly NYSE: LLY and Novo Nordisk NYSE: NVO were not immune to the broad market sell-off sparked by the June CPI report, but investors looking to get into these names should be cheering. The stocks are down 20% or more from their highs, offering big discounts and the opportunity for fat profits over the long term. The caution is that stock valuations are still high, so it may still be too early to buy the dip; lower prices may still come. The primary takeaway from the latest round ...