What’s Behind This Telehealth Stock’s 198% Rally?

This company, which operates a telemedicine platform, has started to offer access to a cheaper, generic version of Ozempic.

Key Takeaways

• Demand for compounded versions of weight loss drugs has been growing as patients struggle to get their hands on the branded versions;

• Hims offers a version of Novo Nordisk’s semaglutide, sold as Ozempic, for a fraction of the price;

• Hims’ subscriber base increased 44% year-over-year in Q3 to more than 2 million on the back of demand for compounded semaglutide.