Novo Nordisk: Why I Don't Think The Story Is Broken

Novo Nordisk remains a Buy, supported by favorable catalysts and a resilient long-term bull case. NVO has surged 41% since my previous coverage, outperforming the benchmark’s 18% return. Despite a recent revenue decline and a 28% drawdown from highs, I believe much of the risk is already priced in. NVO offers valuable anti-AI portfolio diversification, making it attractive if AI sentiment reverses.