Hims & Hers Stock Is Finally Down & And It Might Be Time To Buy

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Hims & Hers ($HIMS), one of the best-performing tech names of the past twelve months, has cooled off lately, after a near 600% rally. Even though the company reported solid earnings results last week and provided an upbeat outlook that exceeded analyst estimates, shares tumbled on regulatory news.

The FDA said last week that semaglutide, the popular weight-loss ingredient, is no longer in shortage, and as a result, companies that produced copycat versions of blockbuster drugs such as Novo Nordisk’s Ozempic and Wegovy should stop production. The news triggered a selloff of $HIMS shares. However, the near-45% collapse has created an attractive entry point for long-term investors. Let’s see why.

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