Bill Baruch joined CNBC’s Halftime Report with AbbVie as his final trade. The company is replacing blockbuster drug sales from Humira, and hedge fund managers are very short on the name, setting the stage for potential upside heading into 2024.
ABBVIE, if the S&P is going to set a new high without the Max seven, it’s going to be names like this. Financials and health care are going to be driving how they’re replacing the HUMIRA pipeline and they’re within their pipeline adding to things. And it’s a hated name by mutual funds and hedge funds and hedge funds are short this name.
This thing could that could really drive this to new highs and I’d be j be staying long and.