Tylenol, a popular over-the-counter pain reliever whose active ingredient is acetaminophen, is made by Kenvue, a spinoff of Johnson & Johnson. In early spring, the company moved its global headquarters to New Jersey, cutting the ribbon on the new location with Gov. Phil Murphy and then-Kenvue CEO Thibaut Mongon.

Kenvue shares rose 6% in premarket trading on Tuesday, set to rebound from a record low hit in the previous session as U.S. President Donald Trump linked its popular pain medication Tylenol to autism.

The FDA reapproved a GSK drug that stopped being sold more than 25 years ago, as part of a push to identify potential treatments for autism

The White House is reportedly planning to link Tylenol use during pregnancy to autism. The news pushed Kenvue stock down 8%.

Families appealing the dismissal of their lawsuits alleging that Kenvue's Tylenol or generic versions of the pain-relief medication caused their children's autism are asking an appeals court to consider President Donald Trump's new advice that pregnant women avoid the pain killer as it decides whether to revive their lawsuits.

Kenvue shares declined on Tylenol autism reports, creating a long-term buying opportunity for savvy investors. Click here to read my analysis on KVUE stock.

The former president made the comment in London two days after Trump made an announcement seeking to tie Tylenol to autism.