Investors Rushed Into These 10 Stocks Today

5. Hims & Hers Health, Inc. (NYSE:HIMS)

Hims & Hers ended a three-day losing streak on Friday, growing 7.94 percent to finish at $56.56 apiece as investor sentiment was boosted by its pivot into a new strategy to bolster its business.

Part of the scheme included job cuts, which the company embarked on and impacted 68 employees across multiple divisions.

“While not easy, this step reflects our commitment to invest in the areas that will define our future,” a spokesperson from Hims & Hers Health, Inc. (NYSE:HIMS) was quoted as saying in an interview with Bloomberg.

“As part of this broader change, we will continue to actively hire for roles critical to our long-term strategy,” the official added.

The layoffs followed Hims & Hers Health, Inc.’s (NYSE:HIMS) cessation of production of knockoff versions of the blockbuster Wegovy and Ozempic drugs, originally developed by Novo Nordisk, following the Food and Drug Administration’s (FDA) exclusion of the said drugs from its shortage list.