Jim Cramer on Hims & Hers Health stock: 'I bet the business stays strong'

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

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer's top 10 things to watch in the stock market MondayWall Street was looking higher early Monday after finishing higher for the holiday-shortened trading week
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street pushed higher after more records for the S&P 500 and Nasdaq.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayWall Street is getting ready for Day 2 of Federal Reserve Chairman Jerome Powell on Capitol Hill.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street was under some pressure ahead of the open after the S&P 500 and the Nasdaq started the new week with more records.
Source: CNBC - 🏆 12. / 72 Read more »