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- Krispy Kreme stock was downgraded due to the growing popularity of GLP-1 weight loss drugs.
- Patients taking GLP-1 drugs like Ozempic, Wegovy, and Mounjaro feel fuller faster and eat less food.
- Krispy Kreme "will be stuck in a holding pattern... as the initial impact of GLP-1 use becomes more apparent," Truist said.
The growing popularity of GLP-1 weight loss drugs is poised to weigh down food stocks going forward, according to Truist Securities.