The stock's market-beating momentum has come crashing to a halt, following shocking allegations from one of the world's largest pharmaceutical companies.
A highly volatile stock can deliver big gains - or just as easily wipe out a portfolio if things go south.
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Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 12.1% in the afternoon session after the company's CEO stated that it will continue to offer cheaper, compounded versions of GLP-1 weight-loss drugs. This statement comes on the heels of Novo Nordisk's recent termination of its partnership with Hims & Hers, where it was to supply its branded weight-loss drug, Wegovy. Novo Nordisk ended the collaboration citing concerns over Hims & Hers' promotion and sale of compounded drugs.
Hims & Hers Health Inc. (NYSE: HIMS) shares are trading higher Thursday. The stock appears to be bouncing back a bit after selling off to start the week. Here's a look at what you need to know.
Telehealth company Hims & Hers (HIMS) saw a 34% stock drop after Novo Nordisk (NVO) ended their relationship. Investors must decide if it's a buying opportunity or a warning sign for the industry.
On Monday, major U.S. indices ended the day in the green with the Dow Jones Industrial Average rising 0.9% to 42,581.78, and the S&P 500 gaining nearly 1% to 6,025.17.
On Stocktwits, 24-hour message volume around HIMS soared 6,717% — the fifth highest among healthcare stocks. It was the top trending ticker on the platform late Monday.
HIMS CEO said that the pharma company’s commercial team has been increasingly pressuring the company to control clinical standards and steer patients to Wegovy regardless of whether it is clinically best for patients.
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