Hims & Hers (HIMS.US) is up more than 6% in pre-market trading today following news of its planned acquisition of the European platform, ZAVA. The acquisition is part of the company's strategy to expand its global operations.
The exact terms of the transaction are not yet known, but according to press reports, the deal will be an all-cash transaction and is expected to close in 2026. For the company, this presents an opportunity to expand operations in the UK, Germany, France, and Ireland.
The company has seen an impressive over 130% increase since the end of April, when the cooperation between Hims & Hers and Novo Nordisk for the distribution of Wegovy was announced. Hims' strongest revenue growth driver has been the sale of cheaper copycats of the weight-loss drugs, thanks to Novo Nordisk and Eli Lilly products being listed on drug shortage lists. When these drugs were removed from the list, the sale of copycats ceased to be legal, and the company's stock plummeted by over 62% from its February highs at its worst point. Currently, the company's stock has returned to around its February levels.
The company's stock is up over 6% in pre-market trading. Source: xStation
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