Nobody who lost money on NVO can say they weren’t warned

NVO went from $140 to 44 in 2 years. this post isnt about if its a buy now, its about what people holding it were doing the whole way down, because it's the cleanest example of a failure mode most investors have. in 2024 the thesis was coherent: GLP-1 duopoly, decade of demand ahead, and a pipeline that extended the moat etc... Here's what the company later told shareholders. June 2025: trial data on cagrisema (the next-gen obesity drug that was supposed to keep them ahead of lilly) comes out so