Nov 25, 2024, 5:16 PM
Nov 25, 2024, 5:16 PM

Hims & Hers Health shares surge on FDA nomination news

Provocative
Highlights
  • Hims & Hers Health shares increased significantly by 23.9% on Monday.
  • Market optimism was fueled by Trump's plans to nominate Marty Makary to the FDA.
  • Investors believe Makary's leadership could lead to a more favorable regulatory environment for the company.
Story

In the United States, on Monday, November 25, 2024, Hims & Hers Health, Inc. experienced a significant increase in share price, closing up by 23.9% at $31.39. This surge was largely influenced by market reactions to President-elect Donald Trump's announcement of his intention to nominate Dr. Marty Makary to lead the Food and Drug Administration (FDA). Investors are optimistic about the possibility of regulatory changes that could favor telehealth and the pharmacological market, sectors in which Hims & Hers is actively involved. Hunterbrook Capital released a bullish report, announcing a long position in the company and highlighting potential benefits of Makary's leadership. The report indicates that Makary's expertise in telehealth and compounded medications could enhance stability in the compounded GLP-1 drug market, an area of concern for Hims & Hers due to previous regulatory challenges such as fluctuating FDA guidance and scrutiny over prescribing practices.

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