Hims & Hers Health Stocks Plunge Following CEO's Support for Anti-Israel Student Protesters

CEO's Statement Causes Stock Correction

Hims & Hers Health, Inc., a publicly traded telehealth company, experienced a sharp drop in its shares last week. The company's CEO announced that he and his fellow executives were keen to hire anti-Israel student protesters, causing a stir in the market. Andrew Dudum, the Palestinian-American CEO, stated on social media platform X, "Moral courage > College degree." He encouraged those protesting against the alleged genocide of the Palestinian people and advocating for their university's divestment from Israel to continue their efforts, stating that it was making a difference.

CEO's Activism Criticized

Dudum's post on X drew criticism from several quarters. Jordan Schachtel, a Substack author, responded by suggesting that Dudum's activism was a violation of his fiduciary duty. Martin Shkreli questioned the relevance of Dudum's political stance to his business and the appropriateness of such a stance in a public company. Other X users expressed their disapproval in various ways, with some accusing the company of hiring anti-Semites and others predicting the company's bankruptcy.

CEO's Post Triggers Stock Sell-off

Following Dudum's controversial post, Hims & Hers' shares took a hit. Some X users announced they were selling their shares, while others said they were shorting the stock. Palantir CEO Alex Karp suggested that anti-Israel protesters causing disruptions in colleges and universities should be sent to North Korea on an "exchange program" to gain a different perspective.

CEO's Statement Draws Parallels with Past Corporate Activism

CEO Dudum's stance is reminiscent of the virtue signaling by major corporations during the Black Lives Matter movement. These corporations were later revealed to be supporting Marxists intent on dismantling capitalism and the US.

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