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Originally Posted by Rain Man
I got into LLY based on honestchieffan's recommendation, and I had a pretty large amount of NVO already. The weight loss drugs are sending these stocks to the moon, and I think the rise is still happening. Anyone else holding these?
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I'm interested in the opposite. Is anyone picking through the parts of the market getting killed due to any news on this?
A few weeks back some kidney study came out that showed good efficacy and it took down the whole medical devices ETF 5+% in a day. They'd already been slowly dying all year. I imagine there is plenty of stuff in that area that won't be impacted at all, the stuff that is impacted who knows how much.
Same with a lot of the consumer staples. They've been out of favor this year, safety and dividend yielders did well last year and this year has been growth/tech. Walmart had some internal study that showed smaller basket size with a different mix for people on the weight loss drugs. Walmart, costco, pepsi, and most non-health foods dropped a bunch that day. Some of the staples have gotten cheaper than they've been in a while relatively and I've noticed they're holding up better than the market. MKC and MDLZ are examples. Hershey was too as it's been killed this year w/ high cocoa and sugar prices but it had earnings today and dumped.