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Started By
Message
JNJ down A LOT on bad news (almost 12%)
Posted on 12/14/18 at 10:40 am
Posted on 12/14/18 at 10:40 am
After flirting with $150 earlier this week the stock is trading near $130 due to:
CNBC
CNBC
quote:
Johnson & Johnson shares plunge 11% after a Reuters report said J&J knew for decades about asbestos in baby powder.
It says that from 1971 to the early 2000s, J&J executives, mine managers, doctors and lawyers were aware the company's raw talc and finished powders sometimes tested positive for small amounts of asbestos.
This post was edited on 12/14/18 at 10:44 am
4
Posted on 12/14/18 at 10:42 am to bayoubengals88
uh oh
Posted on 12/14/18 at 10:51 am to bayoubengals88
They are a 400 billion dollar company. Probably a good buying opportunity. They'll survive any lawsuits.
Posted on 12/14/18 at 10:58 am to bayoubengals88
I'm surprised it took the market this long to react to that news (if it actually is). It's been out for months.
This post was edited on 12/14/18 at 10:59 am
Posted on 12/14/18 at 11:23 am to fallguy_1978
quote:I am thinking the same thing. Probably a good flip trade. I thought hard about buying into PCG when the news dropped about their transmission equipment possibly causing the Camp Fire in California. It dropped 30% and then bounced back by 50% ($6/share).
They are a 400 billion dollar company. Probably a good buying opportunity. They'll survive any lawsuits.
I am having the same feeling about JNJ. People are scattering and will turn right back around and buy it back when they realize this is going to be a protracted court battle.
This post was edited on 12/14/18 at 11:25 am
Posted on 12/14/18 at 12:14 pm to TDFreak
You already would have made 4-5% from the lows of today 
Posted on 12/15/18 at 11:04 am to bayoubengals88
Time to buy
Posted on 12/17/18 at 12:23 pm to Ancient Astronaut
Bought my one share at $127.59
Timed the bottom no doubt. I'll be rich in 35 years!
Timed the bottom no doubt. I'll be rich in 35 years!
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