Jun 23, 01:49 PM

Hims & Hers Sinks 30% as BofA Cites Slowing Growth, Lawsuit Risk

Hims & Hers Health Inc. tumbled as much as 32% to roughly $40 in New York trading on Monday, extending a rout that triggered repeated volatility halts and erased about a third of the telehealth company’s market value in a single session. The slide followed a bearish note from Bank of America, which slashed its price target to $28, saying year-over-year core revenue growth has slowed sharply and that litigation risk is now "front and center." Morgan Stanley added to the pressure, warning clients that an abrupt change in the business could rekindle concerns over patient-care lawsuits. The downdraft comes only days after the stock touched above $64—capping a run-up from about $6 in late 2023—and amid investor debate over the financial impact of Hims & Hers’ weight-loss partnership with Novo Nordisk. While some traders viewed Monday’s plunge as a buying opportunity, the shares were still off about 30% at midday, underscoring heightened uncertainty around the company’s growth trajectory and legal exposure.

#New York #Bank of America #Morgan Stanley #Novo Nordisk

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