Stellar Q3 Earnings and Recent Selloff Make Hims & Hers Stock A Good Buy

In partnership with

Stay up-to-date with AI

The Rundown is the most trusted AI newsletter in the world, with 800,000+ readers and exclusive interviews with AI leaders like Mark Zuckerberg.

Their expert research team spends all day learning what’s new in AI and talking with industry experts, then distills the most important developments into one free email every morning.

Plus, complete the quiz after signing up and they’ll recommend the best AI tools, guides, and courses – tailored to your needs.

Sign up to start learning.

Hims and Hers ($HIMS), one of the best-performing growth stocks of the year, soared to new highs last week before losing more than a third of its value. Shares skyrocketed nearly 30% in two days after HIMS reported stellar Q3 earnings results and gave an optimistic outlook. However, the euphoria didn’t last long.

Last Wednesday, Amazon ($AMZN) launched its new telehealth service, directly competing with HIMS’s core offerings. This announcement sent HIMS shares tumbling.

Competing with Amazon can be a huge challenge, and for many investors, this announcement was seen as a blow to HIMS’s future growth prospects.

While Amazon is undoubtedly a formidable competitor, last week’s knee-jerk reaction seems like an overreaction that has created an attractive buying opportunity. Here’s why.

Subscribe to Premium Membership to read the rest.