Similar to cannabis stocks, Bristol-Myers Squibb (NYSE:BMY) has not had a solid start to the week, and neither has Celgene Corporation (NASDAQ:CELG). These two, however, have something to do with one another. On news that Bristol-Myers’ proposed acquisition of Celgene will close later than forecasted, BMY stock dropped around 7%, while CELG fell nearly 6%.
Here’s what we know.
CELG Joins BMY Stock in the Red ZoneBack in January, Bristol-Myers Squibb announced the proposed acquisition of Celgene Corporation, an American biotechnology company. Initially set to close by quarter three, Bristol-Myers now says the ...
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