"Novo Nordisk's Breakthrough Obesity Drug Sends Stock Soaring, Surpassing Tesla's Market Cap"

Novo Nordisk's stock surged over 10% to a record high, surpassing Tesla's market valuation after announcing positive results from a Phase I trial of its new obesity drug, amycretin. The Danish pharmaceutical company's market cap reached about $613 billion, positioning it as the 12th most valuable global company. Investor optimism stems from the potential of amycretin to outperform existing obesity drugs, amid a growing market for such treatments. Meanwhile, Tesla's stock has declined 28% year-to-date due to weakening sales in China and uncertainties in US electric vehicle demand.