Hims & Hers Health, Inc. Shares Drop

Shares of Hims & Hers Health, Inc. (HIMS) fell over 15% on Thursday following Amazon’s announcement of new telehealth services targeting affordable care for various health and beauty needs.

Amazon (NASDAQ:AMZN) introduced its telehealth services for Prime members, covering:
– Men’s hair loss
– Eyelash growth
– Anti-aging skincare
– Erectile dysfunction (ED)
– Motion sickness

These services feature upfront pricing and convenience, starting at just $16 per month for hair loss treatments.

Bergen Penhart, General Manager of Amazon One Medical (TASE:PMCN), emphasized Amazon's goal of making healthcare accessible and affordable, stating that this service allows Prime members to receive clinical advice and prescriptions from home.

Amazon’s telehealth visits are available 24/7, offering consultations with clinicians for:
– $29 through messaging
– $49 via video

After diagnosis, Prime members can fill prescriptions through Amazon Pharmacy, which often provides same-day delivery in select areas.

Hims & Hers, a telehealth and subscription wellness-focused company, saw its stock decline as investors considered the potential impact of Amazon’s competitive pricing and distribution on its market presence.

With Amazon's aggressive entry into telehealth, analysts predict significant market disruptions for existing services.