US markets closed slightly lower on Tuesday as investors waited for the Fed’s rate decision. Strong retail sales weren’t enough to lift the market, while several standout stock moves, from Steel Dynamics’ profit surprise to a sharp FDA blow for Hims & Hers, dominated the headlines.
A new market leader has snuck into town over the past month as Small Caps have pushed to the top of the leader board. Whether the trend lasts, or not, will depend a lot on what the Fed does, but one thing is certain; after a year of tech-led mega caps setting new highs, investors have clearly shown an increased appetite for risk in the form of smaller, lesser known names.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 6.5% in the afternoon session after the U.S. Food and Drug Administration (FDA) sent the company a warning letter regarding “false or misleading” claims about its compounded semaglutide products.
The past six months have been a windfall for Hims & Hers Health’s shareholders. The company’s stock price has jumped 55.7%, hitting $54 per share. This run-up might have investors contemplating their next move.
FDA Commissioner Martin Makary said Hims & Hers broke federal law with its Super Bowl ad promoting weight-loss drugs without disclosing side effects, and called it "the most overt breach" of FDA rules.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 4.4% in the afternoon session after the stock extended its positive momentum as the company announced its expansion into the testosterone replacement therapy market.
Businesses with strong free cash flow tend to be more adaptable and resilient.
Some of these companies shine bright by using their cash wisely to strengthen their market positions.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 4.4% in the morning session after the stock's positive momentum continued as the company announced its expansion into the testosterone replacement therapy market by launching a new category in men's health.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 3.8% in the afternoon session after the company announced its long-awaited entry into the testosterone replacement therapy market.
According to Stocktwits data, retail chatter around HIMS stock increased by 21% over the last 24 hours and by approximately 533% over the last 30 days as of the early hours on Wednesday.
Hims & Hers is entering the hormonal health market with low testosterone treatments for men, aiming to expand its services as weight-loss drug sales slow and investor interest grows.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 4.9% in the morning session after it continued a rally from the previous day fueled by strong revenue guidance and supportive analyst actions.
