Why Is Hims & Hers Health Stock Down 12% Today?
Synopsis
According to a SEC filing on Thursday, CEO Andrew Dudum sold 175,661 shares of the company for an aggregate value of about $11 million.
Hims & Hers Health Inc. (HIMS) stock came under the spotlight on Friday after the company stated in a U.S. Securities and Exchange Commission (SEC) filing that CEO Andrew Dudum had pared his stake in the telehealth company.
According to an SEC filing on Thursday, Dudum sold 175,661 shares of the company for an aggregate value of about $11 million. The share sale comes a day after the company’s new menopause and perimenopause service launch.
The company officially launched the service on Wednesday, providing women with access to tailored treatment plans for symptoms like hot flashes, mood changes, and sleep issues via its digital platform.
Hims & Hers’ shares were down more than 12% in Friday morning’s trade. The HIMS stock was the top trending equity ticker on Stocktwits at the time of writing. Despite Friday’s decline, retail sentiment around the stock remained in ‘bullish’ territory amid ‘extremely high’ message volume levels.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.