Breakup

Hims & Hers stock just lost weight in a hurry, falling over 30% on Monday.

Novo Nordisk, the drugmaker behind Ozempic and Wegovy, broke off their short-lived agreement to sell weight-loss injectables through the U.S. telehealth company, accusing Hims & Hers of also selling unsafe, cheap Wegovy knockoffs and using deceptive marketing practices. Hims & Hers hit back, alleging Novo had been pressuring them to steer patients to Wegovy regardless of if it was the best option. 

It wasn’t the only big stock move. Tesla jumped 8% after launching its long-anticipated robotaxi service with 10-20 driverless vehicles in Austin, Texas.

Elon Musk promised to start scaling after a “successful” launch. However, regulators are requesting more info about videos that appear to show the robotaxis acting chaotically, including driving on the wrong side of the road (watch here).

ETERNAL PERSPECTIVE
Too often, we let eternally insignificant things, like the ups and downs of the market, control our mood and behavior. Seeking to steward money well is a good thing, but our hope is in Christ, not a good ROI.

“Anyone trusting in his riches will fall, but the righteous will flourish like foliage.”
Proverbs 11:28 (CSB) (read full passage)