Why Hims & Hers Health Stock Couldn't Beat the Market Today
Hims & Hers Health (NYSE: HIMS) stock labored mightily on Wednesday, but in the end, it couldn't top the benchmark S&P 500 index. Investor excitement about news of a fresh product launch the previous day was tempered by a lukewarm analyst note regarding the telehealth company's prospects.The great opportunities in the healthcare field now have to do with obesity drugs, of which precious few have been approved specifically for the indication by the Food and Drug Administration (FDA). Hims & Hers not only recognizes these opportunities but has eagerly jumped on them. Earlier this year, during a shortage of such drugs, it took advantage of a legal loophole that allowed it to (briefly) sell compounded semaglutide to its customers. This is the molecule behind Novo Nordisk's white-hot Wegovy weight-loss injectable. Continue reading
Hims & Hers Health (NYSE: HIMS) stock labored mightily on Wednesday, but in the end, it couldn't top the benchmark S&P 500 index. Investor excitement about news of a fresh product launch the previous day was tempered by a lukewarm analyst note regarding the telehealth company's prospects.
The great opportunities in the healthcare field now have to do with obesity drugs, of which precious few have been approved specifically for the indication by the Food and Drug Administration (FDA).
Hims & Hers not only recognizes these opportunities but has eagerly jumped on them. Earlier this year, during a shortage of such drugs, it took advantage of a legal loophole that allowed it to (briefly) sell compounded semaglutide to its customers. This is the molecule behind Novo Nordisk's white-hot Wegovy weight-loss injectable.
