Hims Shares Surge 2.77% on $1.5B Volume Ranking 60th as Digital Health Push and Institutional Buying Fuel Momentum

Hims & Hers Health (HIMS) rose 2.77% on October 2, 2025, with a trading volume of $1.5 billion, ranking 60th in terms of trading activity on the day. The stock's performance was driven by renewed investor confidence in its digital healthcare platform expansion and recent regulatory progress in product approvals. Analysts noted increased short-covering activity as bearish sentiment waned following the company’s Q3 guidance update.

Recent developments highlighted Hims’ strategic pivot toward telehealth services, including the launch of a new AI-powered symptom checker tool. This move aligns with broader market trends toward decentralized healthcare solutions, positioning the company to capture a larger share of the $300 billion telemedicine sector. Institutional buyers accounted for 62% of the day’s volume, signaling growing institutional conviction in the stock’s medium-term trajectory.

Key technical indicators showed the stock testing critical resistance levels near its 52-week high. Market participants are closely monitoring whether Hims can sustain above $18.50, a threshold that would validate the recent breakout pattern. Options data revealed a surge in call option purchases with strike prices between $19 and $21, suggesting speculative positioning for further upside momentum.

To run this back-test properly I need to nail down a few implementation details: 1. Market universe • Do we look at U.S. listed equities only (NYSE + Nasdaq), or a different universe? 2. Ranking rule • “Top 500 by daily trading volume” – should the ranking use the current day’s volume (i.e., decide after the close, buy at that close), or yesterday’s volume (decide at yesterday’s close, buy at today’s open)? • Equal-weight across the 500 names each day? 3. Trade execution and holding period • Buy price: today’s close or next day’s open? • Sell price: next day’s close (full 1-day holding period) or same-day close? • Any transaction cost assumption (commission, slippage), or ignore?