Johnson and Johnson share price falls massively
December 16, 2018 | Investopaper
Share price of Johnson and Johnson (J & J) declined massively by 10% and the investors lost around 47 billion dollar in market value this Friday following the article published by Reuters, revealing that the company knew about the cancer causing asbestos in its talcum products at least before a decade.
Investors who were wary about the impact of this news prepared by Reuters, responded by showing their loss of confidence to hold the stocks. Investors felt that the company could face disciplinary and reputational damage.
Reacting to the article published by Reuters, the company released the statement calling the article totally false, one sided and inflammatory.
Lately, Johnson and Johnson was also ordered to pay 4.7 billion dollars in damages with reports emerging that its talc products caused ovarian cancers to 22 women.
