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The massive gains from fat loss...

The "Fat Phobia" force was strong

This time one year ago the favorite cocktail party topic of conversation among our friends was how much weight they or someone they know had lost on the new "GLP" wonder-pills. Fast-forward until today and the topic of conversation has changed to how everyone has churned out of using the pill. "It is a wonder drug, but it just was not for me any longer..." seems to be an emerging theme. The exposed stocks have been on a tear & a one-way street but are now starting to show some weakness. We are going tactility short fat phobia. Maybe losing weight is just not that simple and maybe Big Pharma once again oversold something....

Will fat gains lead to equity losses?

Source: Refinitiv

Novo too

Source: Refinitiv

Even mega-themes have drawdowns 

Source: Refinitiv

Worrying data

Not for everyone

Mind the muscle loss

Fundamental downside

Trading it

Source: Refinitiv