Why Novo Nordisk stock is rocketing

Novo Nordisk (NYSE: NVO) shares surged in pre-market and after-hours trading after the company secured U.S. regulatory approval for the world’s first GLP-1 weight-loss pill, a milestone that materially reshapes the obesity drug market.By press time, the stock was trading around $48.10, up about 7% in pre-market trading and having risen as much as 10% after hours, despite remaining nearly 50% lower year-to-date.NVO YTD stock price chart. Source: Google FinanceThe approval gives the Danish drugmaker a decisiv ...