Update shared on28 May 2025
- Short Interest Hits All-Time High for HIMS As of May 15th, over 32% of HIMS' float is shorted, marking a new record. HIMS remains the most shorted stock in the US market! That’s despite strong earnings, a growing Novo Nordisk partnership, and a stock price now above $53. Shorts are holding firm, but with fundamentals this strong, a short squeeze could be brewing.
- While price has doubled off recent lows, short interest hasn’t dropped, suggesting the squeeze is still to come. If shorts begin to cover, I see triple digits as a real possibility this year...
- Meanwhile, HIMS continues to deepen its personalisation moat, launching a 5-in-1 compound pill based on customer demand. CEO Andrew Dudum highlighted how data from MedMatch and Tribe Labs is driving tailored treatment plans, boosting adherence and lowering churn.
- A potential Eli Lilly partnership could further crush the bear thesis that Big Pharma poses a threat. If HIMS teams up with both major players in weight loss (Novo and Lilly) it becomes a collaborator, not a competitor.
- New $1B raise just announced. According to the CEO, demand was more than double what they targeted. The capital will fuel faster global expansion, more investment in AI and data, and bring personalised healthcare to millions. It’s a strong vote of confidence in HIMS' long-term vision.
- With 2M+ subscribers, rising ARPU, and a growing moat, HIMS looks well-positioned to keep compounding. The data-driven flywheel is spinning faster. And if a squeeze happens? Buckle up.
My valuation remains unchanged. Hims remains my 4th largest position in my US stocks portfolio.
Disclaimer
BlackGoat is an employee of Simply Wall St, but has written this narrative in their capacity as an individual investor. BlackGoat has a position in NYSE:HIMS. Simply Wall St has no position in any companies mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimate's are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.