Hims & Hers (HIMS) Stock Drops 12% as Gross Margin Falls to 57%
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TLDR Hims & Hers (HIMS) stock fell 11.8% Monday to $22.94 and slipped to about $22.10 premarket Tuesday. Q3 brought a loss of 14 cents a share against an expected profit of 6 cents. Revenue rose 49% to $890.4 million, but gross margin fell to 57% from 74%. Subscribers reached 2.79 million, short of the 3.04 million Wall Street expected. Q4 revenue guidance of $875 million to $895 million came in below the roughly $955 million consensus. Hims & Hers (HIMS) stock is trading near $22.10 in premarket action Tuesday, down about 4%. That follows an 11.8% drop on Monday to $22.94. Hims & Hers Health, Inc., HIMS Monday’s close was the lowest since May 19, when the stock finished at $22.44.
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