Mike Effect
For nearly a year, this subreddit has been writing Novo Nordisk off. Terms like “2% stock” and “Headwind CEO” flooded every thread. Anyone who expressed optimism about the new management, new board, or new CEO got downvoted into oblivion. That’s understandable - many people here lost real money on this stock, or lost jobs in the layoffs. But a few of us never lost faith in Novo: in what it does for patients, for society, and as a long-term investment.
I’ve made that case repeatedly. I said I trusted the incoming CEO, Mike D, and that he was methodically rebuilding the company’s competitiveness. The oral Wegovy launch has been the marquee moment of his short tenure - but I believe there’s considerably more under the hood that will surface over time.
Now, finally, the broader investor community seems to be paying attention. The share price has recovered to above where it stood on the day he took over - and is up nearly 25% over the past three months. That’s 3 percentage points ahead of Lilly over the same period, and 13 points ahead of the Dow. Still early days, but the narrative is shifting.
I’m adding to my position today.