Why Hims & Hers Stock Slipped Today
The market often gets worried when a company announces a major change in its C-suite. On news that it was doing just that, on Friday the stock of consumer healthcare company Hims & Hers (NYSE: HIMS) was whacked with a more than 9% sell-off by investors. This occurred on a relatively stable day for the broader market, as the benchmark S&P 500 (SNPINDEX: ^GSPC) basically traded flat.
After market close Thursday, Hims & Hers disclosed in a regulatory filing that COO Nader Kabbani had vacated his position. The company added that he did so in order to take up a new advisory role for the company, in which he will, in its words "provide ongoing strategic guidance." He will also, Hims & Hers said, specifically assist in its special global initiatives through next July.
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Source Fool.com
