" Krispy Kreme shares fell this week over worries that weight loss drugs will shrink demand for donuts" [View all]

[brooklynite]

T-Swift of stocks: Ozempic is upending markets, despite unknowns

With its outsized power to grab headlines, upend entire industries and dominate the public conversation, Ozempic has become the Taylor Swift of the stock market.

Driving the news: Krispy Kreme shares fell this week over worries that Novo Nordisk's Ozempic and other drugs that are being used for weight loss will shrink demand for donuts, Bloomberg reported.

It's not just breakfast treats purportedly being disrupted by the drug class known as glucagon-like peptide-1 (GLP-1) agonists.

Beer and snack stocks are plummeting. Walmart said it's taken a hit on food sales. Clothing brands could see a boost from slimmed-down shoppers eager to update their wardrobes. Airlines are already calculating how much lighter flyers will save them on fuel costs.

https://www.axios.com/2023/11/01/ozempic-novo-nordisk-stock-price-economy-food-airline-clothes