Hims & Hers Health Plunges 2.48% on $1.11 Billion Volume Ranking 67th Amid FTC Scrutiny Over Cancellation Hurdles

On August 14, 2025, Hims & Hers Health (HIMS) closed at a 2.48% decline with a trading volume of $1.11 billion, ranking 67th in market activity. The stock’s performance coincided with renewed scrutiny over its business practices.

The U.S. Federal Trade Commission (FTC) is investigating complaints against Hims regarding its advertising and subscription cancellation policies, according to multiple reports. While the company has not been formally accused of wrongdoing, it confirmed ongoing cooperation with the probe since October 2023. Concerns center on allegations that customers face excessive hurdles to cancel subscriptions and are charged post-cancellation. The FTC has previously targeted Amazon and Uber for similar issues, indicating a broader regulatory focus on subscription service practices.

Investor sentiment appears to have been influenced by the probe, as the stock dropped sharply in after-hours trading. The company has declined to provide further details about the investigation, and a spokesperson did not immediately respond to requests for comment. The telehealth platform, which serves 2.4 million subscribers, faces mounting pressure to address consumer complaints about its service model.

A backtest of a strategy purchasing the top 500 stocks by daily trading volume and holding them for one day from 2022 to 2025 showed a compound annual growth rate of 6.98%. However, the approach experienced a maximum drawdown of 15.46%, with a significant decline recorded in mid-2023. The results highlight the volatility inherent in volume-driven strategies, underscoring the need for risk management despite consistent long-term returns.