Shares of Hims & Hers Health (NYSE: HIMS) are falling on Friday. The company's stock lost 23.2% as of 1 p.m. ET and lost as much as 26.1% earlier in the day. The move comes as the S&P 500 lost 1% and the Nasdaq Composite lost 1.

Hims & Hers Health, Inc. (NYSE:HIMS) announced the acquisition of a California-based peptide facility to enhance its domestic supply chain and meet rising demand for personalized medications. The deal’s terms were not disclosed.

Hims & Hers Health Inc (NYSE:HIMS) shares are soaring Wednesday after the company announced plans to introduce at-home lab testing. Positive analyst coverage may also be boosting the stock. Here's what you need to know.

Shares of Hims & Hers Health Inc ( HIMS 17.50%) are flying higher on Wednesday. The company's stock gained 21.7% as of 2:00 p.m. ET, and was up as much as 24.8% earlier in the day. The gain comes as the S&P 500 gained 0.1%, and the Nasdaq Composite was flat.

The telehealth company has been selling a copycat version of a popular obesity drug during the recent shortage.

What Happened? Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 24% in the afternoon session after U.S. Food and Drug Administration (FDA) reported that the shortage of weight-loss drugs such as Wegovy and Ozempic has ended.

The Food and Drug Administration said on Friday that the shortage of semaglutide injection products, such as Novo Nordisk's Wegovy, has been resolved. FDA's update led to renewed uncertainty for a growing group of telehealth companies such as Hims & Hers that have built businesses around offering cheaper copies of the branded medications.

HIMS stock plunged by 18% after the FDA news that resolved a shortage of weight-loss drugs like Ozempic and Wegovy, which previously allowed Hims & Hers to sell compounded alternatives. Compounded versions were permitted during the shortage but are now restricted unless they meet specific exceptions.