On Thursday, the stock market opened 2025 with losses, as Wall Street slump to end 2024 was extended in January.
Overall, S&P 500 and NASDAQ fell 0.2% to 5,869 and 19,281, respectively.
Tweet of the Day
This is bullish https://t.co/gzR8cdQjAk
— David Sharek (@GrowthStockGuy) December 20, 2024
Chart of the Day
Here is the one-year chart of Hims & Hers Health (HIMS) as of November 12, 2024, when the stock was at $27.
Hims & Hers stock has been climbing recently on a bunch of good news. Profits grew 900% on a 77% jump revenue last quarter. Subscriber count rose 44% as clients spend $67 a month with the company, up 24% year-over-year.
The weight loss segment, boosted by GLP-1 treatments, raised average revenue per subscriber by 24% to $67. Compounded semaglutide (GLP-1) weight loss programs boosted results. Hims & Hers is allowed by the FDA to sell its GLP-1 weight loss treatments only because there is a temporary shortage in these drugs.
Recently, Donald Trump nominated Dr. Martin Makary to head the FDA. Dr. Makary is the Chief Medical Officer for a telehealth company that sells GLP-1, and investors think he will continue to allow Hims & Hers to keep selling its GLP-1 drug.
HIMS is part of our Growth Portfolio. It is a high risk, high reward stock.