AXSM - This Stock Crushed the Market Last Year. Here's Why It Could Do That Again.
2023-06-16 14:00:00 ET
Axsome Therapeutics (NASDAQ: AXSM) started out last year as a small up-and-coming biotech company. It finished the year with a more than 100% gain, beating the bear market and crushing the S&P 500 . How did this happen?
Axsome launched its first two products, sleep disorders drug Sunosi and antidepressant Auvelity. And investors started to bet on the company's growth story.
This year, Axsome's ascent hasn't been as dramatic -- at least not so far. The stock has climbed less than 5%, but the company's days of beating the S&P 500 may not be over. In fact, Axsome may just be getting started.
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This Stock Crushed the Market Last Year. Here's Why It Could Do That Again.