Johnson & Johnson (JNJ) has taken a hit in recent weeks, when allegations surfaced that the talc in its baby powder contained asbestos, which could cause cancer and that Management had known about it for many years. The selloff resulted in JNJ stock price going from $147 to a low of $122, one of the worst selloffs in JNJ’s history.
I guess the selloff is understandable because of all the pending lawsuits worth billions of dollars that have been filed since the allegation.
The Markets are very emotional, with a sell now, ask later mentality. To show Wall Street that JNJ
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