Insulet Corporation (PODD)

Shares of Insulet Corporation (PODD) dropped by 8.68% from $146.13 to $133.45 in the trading on Wednesday, October 11, 2023. The reason why PODD stock down is due to a competitor's successful kidney disease prevention drug. However, the stock drop was not exclusive to Insulet, as some other dialysis companies like DaVita and Baxter International also suffered losses. This market turbulence was triggered by Novo Nordisk's early termination of a phase 3 trial for Ozempic (semaglutide), which showed remarkable effectiveness in slowing kidney disease progression in type 2 diabetes and chronic kidney disease patients, potentially disrupting the need for dialysis. This setback compounded Insulet's existing struggles, now that the announcement by Novo Nordisk hurts kidney dialysis provider.

Insulet's shares dropped 7.69% from $193.4 to $178.53 due to investor concerns about the potential competition from new diabetes drugs affecting the sales of the company's insulin pumps.

https://www.fool.com/investing/2023/09/07/why-insulet-stock-is-sinking-today/

Shares of fellow medical device makers Insulet Corp. (PODD) fell 8.63% from $260.85 to $238.34 after the company issued reports for second quarter 2023.

https://finance.yahoo.com/news/insulet-reports-second-quarter-2023-200100437.html