On August 26, Hims & Hers Health Inc. declined 5.12% in regular trading, trading at $30.09 per share, with turnover of $121 million. The stock faced continued selling pressure from multiple headwinds including Visa's monitoring program and a target price reduction from Barclays.
The company was enrolled in Visa's Acquirer Monitoring Program after a surge in credit card disputes in its weight-loss subscription business in July. Each dispute carries an $8 surcharge, resulting in a projected bill of nearly $75,000 in September. The company must bring its dispute rate below 1.5% of transactions for three consecutive months to exit the program. Separately, Barclays cut its price target from $39 to $35 while maintaining an Overweight rating.
Hims & Hers Health, Inc. operates a telehealth consultation platform connecting consumers to healthcare professionals, enabling access to medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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