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NEWS
Santa Rally Suppresses The Bears

Stocks bounced back but still closed deeply in the red for the week after the Fed’s rate cut and hawkish outlook. Leading the charge was Nvidia, which is battling a broken trend and trying to regain its momentum. Next week is a light one, with many hoping the light volumes will help the market drift higher for the holidays. 👀

Today's issue covers Novo Nordisk’s worst day in 22 years, Bitcoin ETFs finally experiencing outflows, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with real estate (+1.82%) leading and consumer discretionary (+0.35%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $MSTR, $PLTR, $MNDY, $RKLB, $APP, 📉 $XPO, $SAIA, $TSLA, $ODFL, $PPC*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Novo Nordisk Nosedives 😬 

The Danish healthcare giant suffered its largest intraday drop since April 2022, falling 18% after providing an update on its experimental obesity drug, CagriSema. 💉 

The company’s phase 3 trial showed an average weight loss of 22.7% at 68 weeks, falling short of the 25% benchmark the company had hoped for, despite meeting primary endpoints of statistical significance versus placebo.

The news boosted its competitors in the weight loss drug space, including Eli Lilly, Amgen, and Viking Therapeutics. Additionally, it prompted several analyst notes that favored its rivals in the aftermath of these results. 📝 

Still, Stocktwits community sentiment stayed in ‘extremely bullish’ territory, as some users called the selloff “super silly,” citing the drug’s relative effectiveness, overall market size, and Novo’s massive pipeline of drugs. 🛒 

Shares are down 45% off all-time highs, leading investors to hotly debate whether this is a buying opportunity or if the stock’s long-term growth story is broken. 🤷 

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