Abbott Laboratories (#ABT) Stock Price, Live Chart & Analysis | Trade #ABT

Interesting facts about the #ABT (Abbott Laboratories)

Are long-term investments in Abbott Laboratories stock profitable? Judging by the experience of Grace Groner, company secretary, yes, they are. In 1935, during the Great Depression, she bought three shares of #ABT for a total of $180. Groner held them for 75 years and also invested in securities all received dividends. With numerous splits, the number of shares has increased to one hundred thousand, and their total value has grown to $7.2 million.

Due to COVID-19, Abbott Laboratories' revenues have skyrocketed. However, in the first half of 2021, demand for the company's products (coronavirus tests) began to fall as the number of COVID cases decreased and the vaccination rate grew. The company's management had to lower its earnings forecast. As a result, the #ABT rate fell by 8.33%.

Abbott Laboratories has been involved in several scandals. In February 2022, two children died due to pathogenic bacteria found in the company's products, so the US authorities had to close the Abbott Laboratories plant in Michigan. As a result, supply chains were disrupted, and production was reduced. In the aftermath of the scandal, Chinese customs officials warned consumers not to buy baby food from Abbott. #ABT price has dropped. Only in May 2022 did the course begin to recover. After this growth, experienced traders made a lot of profit by opening short trades.

Abbott's business is well diversified. However, the company's most significant profits in 2021 came from diagnostic products for blood testing, DNA, and pathogen detection ($15.6 billion), and vascular therapy products ($14.37 billion). New developments in these areas drive the value of #ABT and can offset failures in other areas. Thus, in the report for the first half of 2022, net profit increased by 49.7% compared to the same period in 2021. Thus, the scandal with the plant's closure did not prevent the shares from recovering quickly.