We recently compiled a list of the Wall Street Optimism Spills Over to These 10 Stocks on Friday. In this article, we are going to take a look at where Hims & Hers Health, Inc. (NYSE:HIMS) stands against the other stocks.
Wall Street finished the trading week stronger, posting gains by more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.
Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.
The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.
The broader market optimism spilled into individual stocks, with 10 companies ending the trading session with strong gains. In this article, we have detailed the reasons behind their impressive performance.
To come up with Friday’s top gainers, we considered only the stocks with $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)
Hims & Hers Health, Inc. (NYSE:HIMS) saw its share prices jump by 9.07 percent on Friday to finish at $45.09 apiece as investors resorted to bargain-hunting following a series of selling positions last week due to the Food and Drug Administration’s announcement that the blockbuster Wegovy and Ozempic drugs, which are manufactured by one of its competitors, has already been replenished.
It can be recalled that the FDA’s announcement took a toll on HIMS’ share prices, having lost 25.79 percent of its value in just the past week’s trading.
Hims & Hers Health, Inc. (NYSE:HIMS), a one-stop telehealth service for men’s care and wellness, has been making a compounded knock-off version of the blockbuster treatments.
In the fourth quarter of 2024, Hims & Hers Health, Inc. (NYSE:HIMS) saw net income spike by 1,990 percent to $26.025 million from $1,245 million in the same period a year earlier, while revenues increased by 81 percent to $369.5 million from $204 million.
The company also swung to a net profit of $126 million from a net loss of $23.5 million in 2023 as revenues rebounded by 64 percent to $1.173 billion from $715 million.
Overall HIMS ranks 8th on our list of Friday’s top gainers. While we acknowledge the potential of HIMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HIMS but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
Hedge Fund Resource Center