HIMS 估值偏低、具备上行潜力；其平台模式可从任何胜出的 GLP-1 药物中获取价值，随着市值增长，做空压力将逐步减弱。
逐段跳播
我想谈谈“Hems & Hers Health”这家公司。这是另一个备受关注的名称，尤其是在社交媒体上。它是一只波动较大的股票，但似乎正处于过渡阶段，我很想知道你对它在这个领域所扮演角色的看法，以及你对这家公司的总体看法。
I want to talk about the company "Hems & Hers Health". This is another name that is attracting a lot of attention, especially on social media. It's a volatile stock, but it seems to be in a transitional phase, and I'm interested to know your opinion on its role in this area, and your general opinion of the company .
是的，Hems & Hers Health是一家被严重误解的公司，其价值远高于目前的售价。事实上，它是我们DocShop Financial在所有客户账户中最大的股票投资组合，也是我个人最大的投资。
Yes, Hems & Hers Health is a much misunderstood company and is worth far more than it is currently being sold for . In fact, it is our largest equity portfolio at DocShop Financial across all our client accounts, and it is also my largest personal investment.
Hems & Hers Health本质上是一个医疗平台，其美妙之处在于，无论哪家制药公司赢得药物研发的竞赛，只要该药物在Hems平台上可用，公司就会受益，无论是礼来、诺和诺德，还是任何其他进入市场的实体。
Hems & Hers Health is essentially a healthcare platform , and the beauty of it is that it does n't matter which pharmaceutical company wins the race to develop the drug, because if the drug is available on the Hems platform, the company will benefit, whether it's Eli Lilly, Novo Nordisk, or any other entity entering the market.
Hems 所做的，除了打造出一家垂直整合的远程医疗公司之外，还在于它掌控了大量用户体验和实际的销售渠道。他们也是很出色的营销者。他们拥有巨大的触达范围和数百万订阅用户，这对制药公司来说价值巨大。
随着 Hems 筑起这道竞争护城河并持续发展壮大，所有这些制药公司都会希望在这个平台上展示自己的产品。
What Hems has done , besides creating a vertically integrated telehealth company, is that it controls a lot of the user experience and actual distribution channels. They are also great marketers.
They have a huge reach and millions of subscribers, and this is of great value to pharmaceutical companies. As Hems builds this competitive trench and continues to grow the company, all these pharmaceutical companies will want to showcase their products on the platform.
想一想，如果你是 Novo、Eli Lilly 或任何其他制药公司，有什么是你并不擅长的？总的来说，是营销和分销，还有，如你所知，获客；在制药领域，你并没有真正的订阅用户。所以，如果你能把这件事交给专家去做，你只需要制造、开发产品，并把产品运给真正的分销商，那就是一笔非常有利可图的交易。
Think about it, if you were Novo, Eli Lilly, or any other pharmaceutical company , what is something you are not good at? Well, in general it's marketing and distribution, and also, as you know, customer acquisition; You do not have actual subscribers in the field of pharmaceuticals.
So, if you can delegate that to an expert, and all you have to do is manufacture, develop, and ship the products to actual distributors, that's a very profitable deal.
我们可以用这样一个事实来印证这一点：Hems 是 Novo 公司 Wegovi 的主要分销商。所以，你现在看到这只是在很小的规模上发生，但它会随着时间推移而加剧，Hems 的股价将会上涨。
We can confirm this with the fact that "Hems" is the primary distributor of "Wegovi" by the "Novo" company. So, you see it happening on a very small scale now, but it will worsen over time, and the price of "Hems" stock will rise .
Hems 的问题在于，它处在一个借贷利率极低的特殊位置。因此，许多这类股票被免费借出。人们拿到股票，免费借入，然后卖空，导致股价下跌。接着他们再回来，在当天剩下的时间里平掉仓位，如此反复。
如果你看股价走势图，大约每天从 9:45 到 10:45，会有两百万股被注入市场。这仅仅是因为借贷利率是免费的。
The problem with "Hems" is that it is located in an odd space where borrowing rates are extremely low. Thus, many of these shares are lent out for free. People take the stock, borrow it for free, and sell it short, causing the stock price to drop.
Then they come back and cover their positions for the rest of the day, repeating the process. If you look at the stock chart, approximately every day from 9:45 to 10:45, two million shares are pumped into the market.
This is simply because borrowing rates are free.
随着公司成长，这个问题会得到解决。你可以把它想象成一艘船。如果你的船变大了，就需要更多的人才能把它左右摇晃。所以，所有这些每天进来卖空几百万股的人，当 Hems 成为一家市值 150 亿、300 亿或 500 亿美元的公司时，他们就做不到这一点了。
This problem will be solved as the company grows. You can think of it like a boat. If your boat gets bigger, it needs more people to rock it from side to side. So, all these people who come in and short sell a few million shares every day, they won't be able to do that when Hems becomes a $15, $ 30, or $50 billion company.
这个频道对 $HIMS 的历次判断
Schwab Network 在这只股票上只有这一条判断。