Hims' Stock Surges, Semaglutide Shortage Looms

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Investor's Business Daily

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Health

The Spectacular Dive That Saw Hims Stock Lose 45% Over Five Days

Summary

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Hims & Hers Health has gained notoriety for its role in making less expensive versions of semaglutide, the chemical backbone behind Novo Nordisk's diabetes and obesity drugs Ozempic and Wegovy .

The Food and Drug Administration has determined semaglamutide is no longer in shortage, meaning Hims and other compounders will soon have to stop making it.

Hims stock hit an intraday record high at 72.98 on Feb. 19 , skyrocketing about 203% over the first few weeks of the year .

The company's sales and stock price have climbed astronomically.

Hims stock fell by double digits the day after reporting its fourth-quarter earnings.

Earnings skyrocketed 1,000% year over year while sales jumped more than 95% .

Hims shares have dropped off the IBD 50 list of elite growth stocks earlier this week .

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