Shares in men’s hair loss company ‘HIMS’ have plummeted further after its CEO sparked backlash and threats of boycott by offering jobs to pro-Palestinian university protesters.
Andrew Dudum, who identifies as Palestinian-American, expressed his support for students protesting on American campuses in X.
“Moral courage > College degree,” the 35-year-old CEO wrote Wednesday. ‘If you are currently protesting against the genocide of the Palestinian people and your university’s divestment from Israel, he continues. Is working. There are many companies and CEOs eager to hire you, regardless of university discipline.’
Also known as Hims & Hers Health, Inc., the online sexual health company dropped from its opening price of $12.24 to $11.26 on Friday.
The significant drop came just two days after Dudum’s controversial post, which sparked an immediate reaction, although it is unclear if the recent drop is directly related.
The eight percent decrease in price comes amid a 14 percent downward trend since May 1, when its price was $13.10. And beyond that, the stock is down a total of 33 percent since March 21, when it was selling for $16.73 a share.
Shares in men’s hair loss company ‘HIMS’ have plummeted after its CEO sparked furious backlash and threats of boycott by offering jobs to pro-Palestine university protesters.
Andrew Dudum, who identifies as Palestinian-American, expressed support for students protesting on American campuses on
Pro-Palestinian University of Georgia students protest in front of the UGA Arch in Athens on Friday
Protesters at a pro-Palestinian camp on the University of Chicago campus
The company’s chief legal officer had also prearranged a $31,000 stock sale in September that took effect on May 1, which could explain why investors have been withdrawing shares from the company since then.
Conservative writer Ben Domenech wrote: ‘If you support Israel, cancel your HIMS subscription immediately. Anyway, you can get similar products elsewhere at a cheaper price.’
Joe Lonsdale, co-founder of software company Palantir Technologies, also weighed in, saying, “True moral courage does not involve joining a mindless mob, chanting anti-American Pablum and other woke people, following instructions not to debate or discuss your positions at all.” They remain indignant and righteous, while large numbers of the mob shout for violence and block the Jewish students.’
Many pointed out that Dudum may be harming the interests of shareholders who may not agree with him, given that HIMS is a publicly traded company.
Others shared screenshots of their unsubscription, with one user X writing as a reason: “Their CEO supports Hamas.”
Dudum’s statement marked a significant change in tone compared to the protest reactions of many other CEOs.
Others vowed not to hire student protesters amid the anti-Israel movement sweeping college campuses across the country.
Organized camps first appeared at the prestigious Columbia University in New York City last week, and other universities across the United States followed suit.
Bill Ackman, head of Pershing Square Capital Management, announced that he would not hire Harvard students who signed a letter allegedly blaming Israel for the Hamas attack on Israel on October 7.
‘Shark Tank’ star Kevin O’Leary said pro-Palestinians are ‘screwed’ because companies will be able to use artificial intelligence technology in the hiring process to eliminate any support for the anti-Israel movement and refuse to hire them.
‘Here’s your resume with a photo of you burning a flag. Look at that one. “That goes in this pile here, because I can get the same person’s talent in this pile that doesn’t burn anything,” O’Leary said on Fox News.The five‘ On Wednesday.
HIMS faces a similar dilemma as Bud Light, the major US beer brand that faced widespread boycotts in April 2023 after partnering with transgender influencer Dylan Mulvaney.
In the month following the announcement, Bud Light sales fell between 11 and 26 percent.
