Why Hims & Hers (HIMS) fell 13.89%
Hims & Hers (HIMS) fell 13.89% on November 11, 2026 — FTC expands privacy, billing suit against Hims.
What happened
The FTC expanded its privacy and billing lawsuit against Hims & Hers, and five US states joined the suit, sending the stock down 13.9%.
Why it moved
A broader case with more plaintiffs raises legal costs and the risk of customer or partner churn, which the market prices immediately as a hit to the business.
Why it matters
Hims & Hers was swept into the Meme Stocks basket, where the retail squeeze momentum has broken down and speculative flows are exiting rather than chasing.
What would break the thesis
The stock recovers if the amended complaint is dismissed, narrowed, or settled on manageable terms.