Jul 1, 2025
Hims & Hers Health (HIMS:NYSE) Stock Plummets 31% in One Day | Dog of the Week
Shares of Hims & Hers Health (HIMS:NYSE) plunged over 31% after pharmaceutical giant Novo Nordisk abruptly terminated its agreement to supply GLP-1 weight-loss drug Wegovy through HIMS’ telehealth platform. The fallout highlights the risks of relying heavily on blockbuster drug partnerships in the direct-to-consumer healthcare space. With Wegovy acting as a major growth driver for HIMS—boosting average revenue per user and supporting a high-profile Super Bowl ad campaign—the sudden loss of access triggered a massive pullback in both investor confidence and stock value. We break down what happened, what’s next for HIMS, and the broader implications for telehealth and GLP-1 drug hype.