Growth Concerns Mount for Telehealth Firm Hims & Hers

Shares of telehealth provider Hims & Hers experienced a sharp reversal on Friday, plummeting over 7% following a critical research note from Bank of America. This sell-off starkly contrasts with the stock’s performance for the year, which had seen it surge nearly 120% and become one of the market’s standout performers.

The catalyst for the decline was a report from BofA Securities that highlighted worrying data. According to the analysis, order volumes for Hims & Hers fell by 16% year-over-year in September. This drop represents a significant red flag for a company whose investment appeal has been heavily reliant on robust growth metrics.

In response to these findings, the bank promptly revised its financial forecasts. Its revenue projection for the fourth... Read more...