ABBV Stock Takes a Tumble
Earlier today, AbbVie (ABBV) stock experienced a sharp decline, sinking 4% to a 2 1/2 week low and beneath its 50-day moving average. Many are attributing this slip to be a result of AbbVie’s potentially invalid Humira patent, along with Paulson & Co. dissolving its stake in the company.
Considering that AbbVie just acquired Stemcentrx in the last month, we decided to keep an eye on events surrounding the pharmaceutical company. As the story unfolds throughout the day, we will provide updates on both AbbVie and its stock prices.
4:30 PM PST A look at popular AbbVie-related tweets from the day, with the most-retweeted coming from TradeHawk:
1:17 PM PST Tuesday’s closing bell skyrockets Lexis Nexis mentions of AbbVie, generating 195 by 12:45 PM PST:
11:39 AM PST Twitter is the primary media source from which AbbVie stock stories are being shared, followed closely by traditional news:
10:20 AM PST “Humira” and “patent” jump to the forefront of all AbbVie-related conversation:
9:30 AM PST Top media outlets have caught wind of the story, with Reuters and Bloomberg listed as top sites from which the story is being shared:
8:45 AM PST Thirty minutes later, mentions of AbbVie skyrocketed, as news of the stock “accelerating to the downside” started to spread:
8:15 AM PST Concerns over AbbVie began as it was announced their patent on top-selling arthritis drug, Humira, might be invalid. Shortly after, news of falling stock prices began appearing: