HIMS Amazon is starting to sell cheap hair-loss drugs. BofA downgraded the stock from Buy to Underperform. The stock reacted with a 25% drop.I had always been concerned about the threat from Amazon, along with legal and regulatory issues for this stock.
I don't think Amazon will stop at just selling hair-loss drugs. They might go for everything that Hims offers and more.
As for the technicals, today's drop is a huge blow to the momentum. If you are bullish on the company, I would wait for the bottoming process.
At a minimum, it could check back to the uptrend line.
See the potential drop area in the chart.
As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
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I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.