If I ran a hedge fund - now there's a thought! - I would be loading up right now on shares of Johnson & Johnson. After rising nearly 25 per cent from the end of May until Dec 13, the stock suddenly plummeted, giving back almost all of the gains in five trading days. As 2018 comes to a close, it's down 9 per cent for the year.
The stock's abrupt drop was due to a Reuters story, published on Dec 14, which alleged that the company was aware its best-known product, its talcum powder, contained "small amounts of asbestos", and had kept that knowledge a secret.
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