CNBC's Jim Cramer gave his take on the Hims & Hers Health, a digital health and wellness platform, saying it might be worth opening a position in the stock now that it's pulled back somewhat from its highs.
"I'd never recommend paying up for HIMS after that big run to $25, but now that it's pulled back to $20, I think you can justify building a position here, especially if you buy it gradually on the way down and don't place all your hopes on the temporary GLP-1 business, even as it is incredibly strong," he said.
The company is allowed to sell these copycat drugs because there is a significant shortage of the medication. Cramer pointed out that even though this particular revenue stream is temporary, it may be a while before GLP-1 supply catches up with the demand. Hims & Hers said it eventually plans to give customers access to the branded drugs — currently produced by pharmaceutical giants
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