Novo Nordisk ($NVO) and Merck ($MRK) stocks are experiencing significant declines, with $NVO reaching 52-week lows and down approximately 51% from its all-time high. In European trading, $NVO shares are priced at 503 DKK, with an estimated market capitalization of 323 billion DKK. For 2025, $NVO is projected to generate sales of around 350 billion DKK, translating to approximately 50-51 billion USD. The stock's market cap to sales ratio stands at about 6x. Meanwhile, $MRK and other major players like Regeneron ($REGN) are also under pressure, with $REGN down 48% from its peak. Analysts note that the recent performance of $NVO has led to a substantial drawdown in market capitalization, surpassing the declines seen in Pfizer ($PFE) during the COVID-19 peak. The stock's decline has left many investors, particularly momentum traders, feeling trapped as the once-popular stock has lost its momentum.