10 Stocks Drop Double Digits as Investor Caution Lingers

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

Hims & Hers saw its share prices fall by 15.90 percent on Thursday to close at $34.39 each as investors sold off positions amid a bearish outlook for the company that started when the Food and Drug Administration announced that Novo Nordisk’s blockbuster Wegovy and Ozempic are no longer in the shortage list.

The news took its toll on HIMS, which has been making a compounded knock-off version of the blockbuster treatments that contributed more than $225 million in revenues in 2024.

US regulations allow compounding pharmacies to copy branded medicines that are facing supply shortages. Wegovy and Ozempic have been in shortage in the US for already two years.

Further weighing down on investor sentiment is Citi Group’s downgraded rating for the company. According to Citi, it gave HIMS a “sell” rating with a price target of $27 apiece, or a 21-percent decline from its current stock price.