Hims & Hers (HIMS) Stock Plummets on COO Transition

Hims & Hers Health (HIMS) stock fell sharply Friday, closing at $52.54, down $5.33 (−9.21%), after the company announced a leadership change. Chief Operating Officer Nader Kabbani will step down to take an advisory role effective November 2. Mike Chi, the firm’s Chief Commercial Officer with a background in marketing and product management, will assume the COO position.

The move raised investor concerns over management consistency at the fast-growing consumer healthcare company, fueling the selloff.