Eli Lilly Stock: Bet on Oura - Börse Global
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Eli Lilly is investing fresh capital in an unusual area: wearables. Together with the Dragoneer Investment Group, the pharmaceutical company is acting as a cornerstone investor in the IPO of sensor ring manufacturer Oura on NASDAQ, with signaled buying interest of up to 400 million dollars. This corresponds to approximately 19 percent of the planned issue volume. Oura has set the price range for its stock offering at 40 to 44 US dollars, with pricing expected by the end of September. For Eli Lilly, the commitment is strategically understandable: The group is expanding its digital health ecosystem around its diabetes and obesity preparations, and health data from wearables fits into this puzzle. Financially, the stake is within a manageable scope for a company with a market capitalization of over one trillion dollars. Lilly stock has stabilized in the range between 1,125 and 1,150 dollars after correcting from its August highs above 1,275 dollars, and has recently climbed back above the short- and medium-term moving averages. A daily closing price above the resistance level at 1,190 dollars would activate a buy signal targeting the annual highs at 1,292 dollars. If, however, the price falls below the recent interim low of 1,113 dollars, the positive setup would be invalidated. Fundamentally, the demand boom for weight loss and diabetes medications remains the mainstay of the...
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