(Bloomberg) -- Hims & Hers Health Inc. is cooperating with an inquiry from the US Federal Trade Commission for more information.
“We support the FTC’s mission to protect customers and we strive to ensure best practices in everything that we do,” a spokesperson said in an email to Bloomberg. “We are voluntarily cooperating in responding to an FTC inquiry for information.”
The company’s stock fell 4.7% on Friday in New York. The shares had gained 129% this year through Thursday’s close. Hims, which provides telehealth services to patients, declined to detail what the probe is about.
Hims’ confirmation came after speculation on social media earlier in the day, including from Spruce Point Capital Management, an investment firm that is short Hims.
--With assistance from Kenneth Hughes.
(Updates with share move, more information in third paragraph.)
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