Top 20 Falling Stocks with Unusual Volume

18. Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S is the manufacturer and distributor of pharma products, though the company is mainly known for its weight loss drugs Wegovy and Ozempic. These drugs continue to be the source of volatility in the stock, with the most recent example seen earlier this month.

Donald Trump’s government finalised some major decisions on medical care for older Americans, and weight loss drugs did not receive a favorable ruling. This lack of coverage caused a dip in the share prices of major weight loss drug developers, including NVO.

Meanwhile, the company has no intention to slow down on its weight loss drug ambitions. A few days after the above bad news, it announced an investment of just over one billion dollars in Brazil in a bid to boost the production of both Wegovy and Ozempic. Brazil is a major manufacturing destination for the company, which exports its products to over 70 countries from the South American nation.

The stock is down 5.11% in a week on a relative volume of 3.72. A downtrend on high volumes suggests the price has room to drop further, so investors might be better off waiting on the sidelines before initiating a position in the stock.