Shares of top-German, pharmaceutical and chemical giant, Bayer AG (BAYN.DE) fell today the most since March, as Washington state court will review a case alleging potentially toxic chemicals from the Monsanto, Bayer unit (completed acquisition in 2018). In such case, three teachers claim that, Monsanto product caused brain injuries.
The court denied an application for a 'speedy' review of this case. According to Bloomberg Intelligence report, Bayer’s exposure to the Roundup litigation (another Monsanto's product) could exceed the Bayer's almosta $16 billion reserve by around 5%. German company has more than 57k unfinished cases related to Roundup; still claiming that Roundup is totally safe.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appBayer AG (BAYN.DE, D1 interval)
As we can see below, Bayer shares failed to break above resistance of the EMA200 (red line) and now are falling back to levels unseen since half-September.
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
