Shares of Hims & Hers Health (HIMS) dropped 5% on Thursday. This decline follows Amazon Pharmacy’s expansion of same-day delivery for GLP-1 weight-loss drugs like Ozempic.
Amazon's move increases competitive pressure on Hims within the weight-loss market. Hims currently provides access to branded GLP-1 medications from manufacturers including Novo Nordisk and Eli Lilly.
Hims' stock closed the Thursday session at $25.65. The equity is now on track for its second consecutive week of losses.
The company will release its first-quarter earnings report on May 11. While retail traders on Stocktwits show bearish sentiment, some users maintain confidence in the company's long-term AI-driven healthcare strategy.