Hims & Hers Stock Drops as CEO Supports Hiring Anti-Israel Protesters
Shares of Hims & Hers Health, Inc. experienced a significant drop following remarks made by CEO Andrew Dudum. Dudum expressed eagerness to hire anti-Israel student protesters who have faced disciplinary actions at their respective universities. This statement comes amidst a backdrop of nationwide protests at academic institutions, which have seen over 2,100 arrests and many students suspended or banned from campus activities.
The company's stock price fell by 8% from an opening price of $12.24 to $11.26 on Friday, just two days after Dudum's comments. This decline is part of a larger downward trend for the telehealth company, with a 14 percent decrease since May 1 and a 33 percent fall since March 21.
The CEO's stance has prompted criticism from various quarters, with some arguing that his actions could be a violation of fiduciary duty and potentially harmful to shareholder interests, given that Hims & Hers is a publicly traded company. In contrast, other CEOs have voiced their opposition to hiring such student protesters, with Palantir CEO Alex Karp suggesting an "exchange program" sending them to North Korea to gain perspective. The controversy has led to a backlash against the company, with some customers sharing their decisions to cancel subscriptions in response to Dudum's statements.
