RMD rallied +1.5% in a falling market on Thursday, an encouraging move for the sleep disorder business, which has been on a wild Ozempic ride over the last year – unfortunately, overnight trade in the US suggests it will struggle this morning. At MM, we’ve commented on many of RMD’s twists and turns through its volatile journey since many of us first heard about miracle slimming drugs, and after its 43% recovery, the risk/reward is diminishing fast for the bulls.
- We are still considering reducing/cutting our RMD position around $30 – MM is a long RMD in our Active Growth Portfolio.
MM is cautiously bullish toward RMD short-term
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