Why Hims & Hers Health, Inc. (HIMS) Soared Last Week

We recently compiled a list of the Last Week’s Top 10 Stocks Post Double-Digit Gains. In this article, we are going to take a look at where Hims & Hers Health, Inc. (NYSE:HIMS) stands against the other stocks.

The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.

On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.

Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A nurse in a telehealth platform talking with a patient on video call for consultation.

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

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) jumped by 42 percent last week, ending Friday’s trading at $60.47 each versus the $42.55 a week earlier after the company saw a 650-percent spike in its website traffic, thanks to its recent Super Bowl advertisement called “Sick of the System.”

According to FOX Sports, the Hims & Hers Health, Inc. (NYSE:HIMS) ad which was aired in the third quarter of Sunday’s Super Bowl LIX game, was so far the most-watched advertisement with 127.7 million views.

The ad featured a montage of junk food, and abdominal fat, as well as statistics about the health risks of obesity and big pharmaceutical firms’ hefty prices. Hims & Hers Health, Inc. (NYSE:HIMS)’s ad then promoted its weight loss products, including compounded GLP-1 medications, as alternatives to the pricey Ozempic and Wegovy brands.

“Junk food giants, diet industry’s quick fixes, Big Pharma’s price-gouging, and regulations that favor special interests have created a system that leaves us with limited options, skyrocketing costs, and a cycle of failure,” Hims & Hers Health, Inc. (NYSE:HIMS) said in its ad.

Overall HIMS ranks 3rd on our list of last week’s top gainers. While we acknowledge the potential of HIMS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HIMS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.