J&J’s consumer health unit Kenvue started trading. What it means for the Club

Kenvue Inc. Johnson & Johnson’s consumer-health business, trading information is displayed on a screen during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023.

Brendan Mcdermid | Reuters

Johnson & Johnson‘s (JNJ) consumer-health unit Kenvue (KVUE) soared more than 22% on its first day of trading Thursday, bringing the Club holding one step closer to completing its business separation. The planned split, which is set for later this year, is in the best interest of shareholders of both the soon-to-be-solo Kenvue operations and the new pharma and medtech-focused J&J.

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