Hims & Hers Stocks Sinks Despite Huge Revenue Growth. Is This a Buying Opportunity in the Stock?
Although the telemedicine company displayed blistering growth and issued robust guidance, shares of Hims & Hers (NYSE: HIMS) plummeted following its fourth-quarter earnings report. The stock had rocketed from around $24 at the start of the year to over $70 before pulling back.Investors became excited about the prospects of the company, while its Super Bowl ad and the acquisition of an at-home lab facility helped propel the stock higher. However, the stock gave back a lot of gains after semaglutide, the active ingredient in GLP-1 weight loss drug Ozempic, was taken off the Food & Drug Administration's shortage list. Hims & Hers has been selling semaglutide-based GLP-1 compound drugs under an FDA exception since the drug was in shortage. The FDA gave compounders 90 days to stop selling these drugs or it would take action.Let's take a closer look at Hims & Hers' most recent report and forecast, to determine whether the sell-off is a buying opportunity.Continue reading
Although the telemedicine company displayed blistering growth and issued robust guidance, shares of Hims & Hers (NYSE: HIMS) plummeted following its fourth-quarter earnings report. The stock had rocketed from around $24 at the start of the year to over $70 before pulling back.
Investors became excited about the prospects of the company, while its Super Bowl ad and the acquisition of an at-home lab facility helped propel the stock higher. However, the stock gave back a lot of gains after semaglutide, the active ingredient in GLP-1 weight loss drug Ozempic, was taken off the Food & Drug Administration's shortage list. Hims & Hers has been selling semaglutide-based GLP-1 compound drugs under an FDA exception since the drug was in shortage. The FDA gave compounders 90 days to stop selling these drugs or it would take action.
Let's take a closer look at Hims & Hers' most recent report and forecast, to determine whether the sell-off is a buying opportunity.
