Novo Nordisk’s Stock Run Is No Match For Wall Street’s Megacaps

 

• Novo Nordisk makes it to the $500 billion market-value league
• Europe’s top 10 stocks are still dwarfed by US tech behemoths

Weight-loss drug maker Novo Nordisk A/S hit a big milestone, becoming the second-ever European company to reach $500 billion in market value. And yet, it’s just another reminder that even the booming healthcare and tech shares of the region are no match for the growth that Wall Street stocks offer.

Denmark’s Novo surpassed the half-trillion mark for the first time on Wednesday, following luxury giant LVMH last year. While the feat stands out, Novo added $100 billion over the last four months during which AI powerhouse Nvidia Corp. rallied by $500 billion.

https://www.bloomberg.com/news/articles/2024-02-01/novo-nordisk-s-stock-price-run-is-dwarfed-by-wall-street-megacaps-s-growth