Hims & Hers Health (HIMS) Shares Skyrocket, What You Need To Know

What Happened?

Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 34.9% in the pre-market session after Novo Nordisk announced plans to offer its weight loss drug Wegovy through the company's (Hims & Hers Health's) platform, expanding access to one of its fastest-growing products. By partnering with a popular telehealth company, Novo could speed up Wegovy's adoption, leading to more prescriptions. For investors, the deal signals a clear strategy to expand distribution and grab more market share, a move that could also boost sales growth for Hims & Hers (HIMS).

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What The Market Is Telling Us

Hims & Hers Health’s shares are extremely volatile and have had 91 moves greater than 5% over the last year. But moves this big are rare even for Hims & Hers Health and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 13 days ago when the stock dropped 10.2% on the news that Federal Reserve Chair Jerome Powell signaled a cautious stance on future monetary policy decisions during a speech in Chicago, emphasizing that trade tariffs could add upward pressure to inflation in the short term and complicate the Fed's efforts to stabilize the economy. He warned that such trade measures are "likely to move us further away from our goals," referring to the Fed's dual mandate of price stability and maximum employment. 

The comments did little to improve sentiment, as major indices were already in the negative territory in the morning session after Nvidia announced it might be unable to sell some high-end chips (including the H20 chips) to China due to export controls and requirements from the Trump administration. As a result, the company planned to take a $5.5 billion charge due to inventory writedowns and canceled sales. 

Adding to the sector's pressure, chip tool maker ASML posted weak bookings (a key demand indicator) which fell below Wall Street's expectations, noting that tariffs had made the industry's outlook more uncertain. Taken together, these updates likely fueled investor anxiety, amplifying concerns about global trade tensions, tech sector vulnerability, and the Fed's limited room to maneuver in an increasingly uncertain macro environment.

Hims & Hers Health is up 42.4% since the beginning of the year, but at $35.89 per share, it is still trading 47.8% below its 52-week high of $68.74 from February 2025. Investors who bought $1,000 worth of Hims & Hers Health’s shares 5 years ago would now be looking at an investment worth $3,596.

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