RMD’s been on a wild Ozempic ride in 2023/4, but its recent ~40% bounce has restored a semblance of calm/normality to the stock. However, we shouldn’t forget that RMD took an initial sharp downturn last August after an FY23 earnings miss; this weakness was compounded by demand concerns as the benefits of weight loss drugs got increasing media coverage. At some stage, we can see RMD entering a “holding pattern” as investors wait to see the difference between fact and fiction.
- We feel RMD’s aggressive correction might need a rest – MM holds RMD in our Active Growth Portfolio.
MM is considering switching /trimming RMD above $30
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