Him & Hers (HIMS) lost its jaw-dropping momentum last week. After peaking at nearly $73, shares closed at $49.28, down by 25.79% on Feb. 21.
The Food and Drug Administration said that Novo Nordisk’s (NVO) obesity drug are no longer in shortage. Him & Hers produces versions of Novo’s Ozempic and Wegovy. As a result, Him & Hers cannot manufacture copies of the drug. After HIMS stock fell, the stock is still richly valued. Its GAAP P/E was 149 times, four-fold higher than the sector median (28 times).
The quantum computing sector tried to ride the artificial intelligence boom. However, graphics chips power the AI market, whereas quantum computing relies on CPUs. Regetti Computing (RGTI) shares will likely “fade” from here. The stock tried to rally above $12 on Feb. 21, only to fall sharply.
Be wary of Intel (INTC), too. The stock traded to as high as nearly $28 on vague rumors that Broadcom (AVGO) and Taiwan Semiconductor (TSM) would buy all or parts of the firm. TSM is not an American firm, so the U.S. government is highly unlikely to approve any buyout of Intel’s businesses.
INTC has strong support at around $19.00. Once the rumors disappear, consider buying the stock at lower prices.
