Hims Daily (Jul 11, 2025)

Jul 11, 2025

🔥 The FINAL Hims Data Tracker of Q2 dropped this morning.

HIMS sinks almost 5% on dead volume. Closed at $47.89 after an early pop to $50.77, then slid all day.
- Just 16.7M shares traded - barely 40% of the 90-day average. No spark, no follow-through.
SHORT INTEREST HITS ALL-TIME RECORD HIGH. 68.3M shares sold short as of June 30 — 38% of float. Lawsuit fears are fueling it, but chatter is shifting toward a “crowded short” setup with explosive potential.
Borrow availability suddenly spikes. 6.2M shares became available to short today, the most in nearly three months. Interpretations vary: some say institutions are unloading, others see signs of quiet covering. If someone was covering, the price action didn’t show it.
Hims is gaining ground in website traffic. Hims & Hers now owns 60% of all web traffic among Hims, Ro, and LifeMD. The highest share since Dec 2024. The moat is growing.
Still no word from management. Outside of Canada expansion, it’s been radio silence. Lawsuit noise + no bullish catalysts = drift.
All eyes on earnings. Q2 results land in early August and should bring the first revenue guide post-ZAVA and (hopefully) updates on TRT, menopause, the AI roadmap, and the Novo legal situation.