Bristol-Myers Squibbs $1.95B Trading Volume Surges 197.82 to Rank 51st as Shares Plunge 5.81 on Legacy Drug Strength and Skepticism Over New Therapies

On July 31, 2025, Bristol-Myers Squibb (BMY) reported a trading volume of $1.95 billion, marking a 197.82% surge from the previous day and ranking 51st in market activity. The stock closed down 5.81%, reflecting investor caution despite strong quarterly performance from legacy products.

The pharmaceutical giant exceeded revenue expectations in Q2 2025, with total sales rising 1% year-on-year to $12.3 billion. This outperformance was driven by resilient demand for Eliquis, a blood thinner shared with Pfizer, which generated $3.7 billion in revenue, and Opdivo, a cancer immunotherapy that contributed $2.6 billion. However, analysts noted that the gains were primarily fueled by older blockbuster drugs rather than newer therapies, which remain unproven in driving long-term growth. Revlimid, a key revenue driver, saw a 38% decline to $838 million, though it still outperformed forecasts by $300 million.

Investor skepticism persisted over the company’s growth strategy. While Bristol-Myers raised its full-year revenue guidance to $46.5–47.5 billion, analysts highlighted concerns about rising operating expenses and delayed data from trials of newer products like Cobenfy. The company also announced a $570 million per share charge related to a $11.1 billion partnership with BioNTech for next-generation cancer treatments, further weighing on sentiment. Management now projects 2025 Revlimid sales of $3 billion, up from earlier estimates of $2.5 billion, but competition from generics remains a critical risk.

Backtested strategies suggest that high-volume stocks, including Bristol-Myers, delivered 166.71% returns from 2022 to 2025, outpacing the benchmark by 137.53%. This highlights the role of liquidity-driven momentum in short-term price movements, though such approaches remain sensitive to evolving market dynamics.