Hims and Hers got sued by the FTC for sharing health data with Meta and Snap. Your erectile dysfunction metrics are now part of the Metaverse. Congratulations.
The company also got dinged for billing practices and making it hard to cancel subscriptions. Shocking revelations here. A telehealth company that sells hair loss pills and ED medication made it difficult to stop paying them monthly. Next you'll tell me they charged your card on a Saturday knowing your bank doesn't process disputes until Monday.
Shares fell 10% on the news. Retail traders who bought at $28 are now explaining to their wives why they invested in a company that texts you about your flaccid penis and then sold that information to Snapchat's ad targeting algorithm. She's taking the kids to her mother's.
The technical setup remains irrelevant. Support at $15 means nothing when the FTC is holding your medical records as exhibit A. The 50-day moving average doesn't care that Mark Zuckerberg knows you ordered finasteride.
Some analyst will downgrade this to neutral and act like they saw it coming. They didn't. They were too busy drawing trendlines on a chart while the company was literally sharing customer health data with social media platforms. But sure, the death cross in October was the real warning sign.
The real tragedy is the guy who bought 500 shares on margin last week because he saw unusual call activity. He's currently trying to understand if data privacy violations are priced in. They are now.
The only support level that matters is whether your browser's incognito mode actually worked when you ordered those pills at 2 AM.
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