Novo Nordisk shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

Novo Nordisk shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

Amidst a race with its competitors to produce the next smash-hit weight loss drug, Novo Nordisk 's ( NVO 0.15%) stock crashed by 19% on Dec. 20, after the company reported results from a late-stage clinical trial that it framed as a success.

Novo Nordisk stock has erased 40.7% over the last six months, worsened by a nearly 20% bear gap back in late December following an update on the company's weight loss drug CagriSema. Now "oversold," NVO's 14-day relative strength index (RSI) ranks at 15.

Novo Nordisk shares fell 30% in the fourth quarter on disappointing clinical trial data, concerns about its experimental obesity pill, and supply capacity for Ozempic and Wegovy.