We recently published an article titled Market Slump Drags Down Share Prices of These 15 Companies. In this article, we are going to take a look at where Hims & Hers Health Inc. (NYSE:HIMS) stands against the other stocks.
Wall Street’s main indices ended this week’s trading on a bloodbath following an overall market selloff as investors shifted their capital into assets offering higher returns.
This article will delve into the factors behind the downturn and explore why each company was particularly affected.
To come up with Friday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A nurse in a telehealth platform talking with a patient on video call for consultation.
Hims & Hers Health Inc. (NYSE:HIMS)
Telehealth company Hims & Hers Inc. (HIMS) registered a 6.77-percent decline in its share price on Friday, closing at $26.56 apiece following a selloff from its Chief Finance Officer, Okupe Oluyemi.
Oluyemi sold 4,213 shares of the company’s Class A common stock at an average price of $29.98 apiece, resulting in a total transaction value of $126,317.
Earlier this week, the company’s chief commercial officer Michael Chi also sold off positions on Hims & Hers, disposing of 17,393 shares for $27.97 each. The sale was part of a pre-established trading plan under Rule 10b5-1, adopted earlier this year.
In other recent news, Hims & Hers has been in the spotlight following the FDA’s resolution of the obesity drug shortage which has raised concerns about the impact on Hims & Hers Health, which had been offering compounded versions of such drugs.
Overall HIMS ranks 7th on our list of the stocks that were recently dragged down by market slump. While we acknowledge the potential of HIMS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HIMS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.