Is The Rally Over For Abbott Stock?
- Date: 18-Sep-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Is The Rally Over For Abbott Stock?
Sign with logo on facade of pharmaceutical company Abbott in the Silicon Valley, Santa Clara, ... [+] California, August 17, 2017. (Photo by Smith Collection/Gado/Getty Images)
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Abbott Labs' stock (NYSE: ABT) trades at $107 currently and it has gained 24% in value so far this year. It traded at a pre-Covid high of $89 in February, and it is currently 20% higher than that level. Also, ABT stock has gained 71% from the low of $62 seen in March 2020, as the demand for its Covid-19 tests have increased, and deferred surgeries, which impacted Abbott's business earlier in the year, have now resumed, indicating the worst is probably behind for Abbott. That said, going by historical performance, and in view of the
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