Hims & Hers Health Stock Is Sliding Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Hims & Hers Health (NYSE:HIMS) shares are down 9.9% after Hunterbrook issued a short report alleging the company sells non-FDA approved GLP-1 weight loss drugs and relies on a supplier with ties to fraud and bankruptcy. Hunterbrook has a short position in Hims & Hers Health stock.
June 27, 2024 | 4:01 pm
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NEGATIVE IMPACT
Hims & Hers Health shares fell 9.9% following a short report by Hunterbrook, which alleges the company sells non-FDA approved GLP-1 weight loss drugs and relies on a supplier with a history of fraud and bankruptcy. The report suggests potential legal troubles for Hims.
The short report by Hunterbrook has led to a significant drop in Hims & Hers Health's stock price. Allegations of selling non-FDA approved drugs and ties to a fraudulent supplier could lead to legal issues, further impacting investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Novo Nordisk (NYSE:NVO) is mentioned as a comparison in Hunterbrook's report, which alleges that Hims & Hers Health sells non-FDA approved GLP-1 drugs unlike Novo Nordisk's FDA-approved Ozempic and Wegovy.
Novo Nordisk is mentioned in the context of FDA-approved GLP-1 drugs, contrasting with the allegations against Hims & Hers Health. This mention is unlikely to have a significant short-term impact on Novo Nordisk's stock price.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20