The founder and CEO of Hims & Hers Health, Andrew Dudum, has addressed the recent controversy surrounding his comments supporting anti-Israel protesters, which led to a significant drop in the company's stock value.
Dudum's remarks, made on social media platform X (formerly Twitter), sparked criticism and contributed to a $210 million loss in stock value for Hims & Hers Health in a single day, the New York Post reported.
This came after Dudum supported protesters to continue their activism against Israel and offered job opportunities at his company regardless of university discipline.
Moral courage > College degree
— andrewdudum (@AndrewDudum) May 1, 2024
If you’re currently protesting against the genocide of the Palestinian people & for your university’s divestment from Israel, keep going. It’s working.
There are plenty of companies & CEOs eager to hire you, regardless of university discipline.…
Andrew Dudum Clarifies Statement
Responding to the backlash, Dudum clarified his stance in a series of posts on X, emphasizing that his words were misconstrued and that he does not condone violence, antisemitism, or intimidation.
In a statement posted on Sunday, Dudum expressed his support for peaceful protest while denouncing any form of violence or bigotry.
He also emphasized that every student deserves to feel safe without fear of harm or being targeted for who they are.
The last few days have been a disheartening reflection of just how divisive a time we live in. I’d like to clarify a few things because my words have been misconstrued by some.
— andrewdudum (@AndrewDudum) May 5, 2024
Market Reactions After CEO's Statement
The market reaction was swift, with Hims & Hers stock plummeting 8% following Dudum's comments.
Investors and commentators expressed concerns over the CEO's stance, with some shareholders reportedly rushing to sell their shares.
Critics, including conservative media personalities and investors, lambasted Dudum for what they perceived as endorsing antisemitism and lacking fiduciary responsibility.
Calls to divest from the company and criticism of Dudum's judgment were prominent on social media platforms.
Hims & Hers has not yet issued an official statement regarding the stock plunge or Dudum's comments.
The company offers telehealth services and prescription medications to address concerns like hair loss, erectile dysfunction, and others.
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