Novo Nordisk (NYSE:NVO) stock is on the rise Wednesday after the pharmaceutical company announced a split of its shares.
According to a press release from Novo Nordisk, shares of NVO stock are undergoing a two-for-one split this morning. However, that split only affects the company’s shares trading on the Nasdaq Copenhagen exchange.
Novo Nordisk notes that its ADRs listed on the New York Stock Exchange won’t undergo the split until Sept. 20. This will keep these ADRs equal to a one-for-one ratio with the company’s shares on the Nasdaq Copenhagen exchange.
What’s Going on With NVO Stock This Morning?
Despite that split not going into effect just yet, shares of NVO stock appeared to be up roughly 95% during early morning trading on Wednesday. Unfortunately for investors in NVO stock, that isn’t the case. Once the stock’s price was adjusted, its shares were actually down 2.9% as of this morning.
Investors will also note that shares of NVO stock aren’t seeing much in the way of trading activity right now. As of this writing, only about 52,000 shares have changed hands. That’s nowhere close to the roughly 1.6 million shares it traders on average each day.
Investors keeping track of all the latest stock market news for Wednesday are going to want to keep reading!
We have all of the most recent stock market stories that traders need to know about today! That includes our breakdown of the biggest pre-market stock movers this morning, the latest news concerning shares of Tesla (NASDAQ:TSLA) stock and more. You can catch up on all of these matters by checking out the links below!
More Wednesday Stock Market News
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- Brace Yourself for a Wild Ride on Wednesday’s CPI Report
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
