HIMS (USA) - Strategic Pivot Following Big Partnership News
By:TradingView
Hims & Hers Health has had a brutal dump over the last year and is down around 80% off its highs as it battled court-cases and regulatory headwinds. Based in San Francisco, the telehealth platform has traditionally focused on direct-to-consumer treatments for hair loss and sexual health, but the real story recently was its high-stakes entry into the weight-loss market. After a period of heavy selling following a fallout with regulators, the stock has started to show some life again, recently bouncing as the company gets some wins and also pivots its strategy.
The fundamental narrative has shifted significantly in just the last few weeks. The big news driving the recent move is a surprise peace treaty with Novo Nordisk that was announced at the end of last week.
After a bitter legal feud over compounded versions of obesity drugs, the two have reportedly agreed to a partnership that will see Hims sell branded versions like Wegovy and Ozempic directly on its platform. On top of that, the company just signed a massive $1.15 billion deal to acquire Eucalyptus, an Australian digital health leader. This move isn't just about growth; it’s an aggressive push to diversify away from US regulatory risk by expanding into Australia, Japan, and deeper into Europe.
Technically, the chart is starting to look like a classic "washout and recovery" play. The stock has been in a steep decline, but the price action is now testing the 20-day SMA from below, which is often the first step in a trend reversal. We’ve seen a strong surge in volume coinciding with the partnership news, and the RSI is still looking very oversold in the low 30's. While the 50-day and 100-day SMAs are still sloping downward and sitting overhead as potential resistance, the MACD histogram has turned positive for the first time in weeks. This suggests the selling momentum may have finally stalled out.
It looks very oversold, and the legal and regulatory battles that caused it to dump might be getting resolved. Even if it only recovers a small part, there is plenty of upside which means it could be worth a watch.
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The fundamental narrative has shifted significantly in just the last few weeks. The big news driving the recent move is a surprise peace treaty with Novo Nordisk that was announced at the end of last week.
After a bitter legal feud over compounded versions of obesity drugs, the two have reportedly agreed to a partnership that will see Hims sell branded versions like Wegovy and Ozempic directly on its platform. On top of that, the company just signed a massive $1.15 billion deal to acquire Eucalyptus, an Australian digital health leader. This move isn't just about growth; it’s an aggressive push to diversify away from US regulatory risk by expanding into Australia, Japan, and deeper into Europe.
Technically, the chart is starting to look like a classic "washout and recovery" play. The stock has been in a steep decline, but the price action is now testing the 20-day SMA from below, which is often the first step in a trend reversal. We’ve seen a strong surge in volume coinciding with the partnership news, and the RSI is still looking very oversold in the low 30's. While the 50-day and 100-day SMAs are still sloping downward and sitting overhead as potential resistance, the MACD histogram has turned positive for the first time in weeks. This suggests the selling momentum may have finally stalled out.
It looks very oversold, and the legal and regulatory battles that caused it to dump might be getting resolved. Even if it only recovers a small part, there is plenty of upside which means it could be worth a watch.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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