美国远程医疗服务公司Hims & Hers Health(HIMS)今日盘后大跌18.5%。主要原因如下:
首先,这与该股过去一年中过度上涨有关。HIMS股价自去年以来已累计上涨超过200%,其估值严重超出合理区间。数据显示,该股预期市销率已高达7.5倍左右,远高于同行业水平。而每股自由现金流的估值约为105倍,即便考虑其高增长特征,也过于昂贵。
其次,HIMS明日将发布2022年第四季度财报,投资者担心业绩不佳或将引发获利浪潮。由于股价节节攀升,HIMS的期权隐含波动率亦大幅走高,尤其是临近到期的合约,这为期权卖家们创造良机。显示市场正预期该股未来波动加大。
长期来看,HIMS业务也面临一些潜在挑战。例如亚马逊对该公司部分业务构成挤压,以及FDA对相关药品供应的监管政策存在不确定性。一旦这些风险问题进一步显现,也可能利空该股前景。
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