Telehealth giant Hims & Hers Health, Inc. (NYSE:HIMS) may have flown too close to the sun and is now under fire on multiple fronts, including federal intervention, criminal investigation and a patent war.

Shares of Hims & Hers crashed to new 52-week lows on Monday, under the weight of much uncertainty. 

HIMS stock is dropping. See the chart and price action here. 

Federal Crackdown: FDA & DOJ

One catalyst for the crash was Hims’ recent aggressive attempt to launch a compounded oral semaglutide pill, a copycat of Novo Nordisk A/S’s (NYSE:NVO) newly approved oral Wegovy. 

The response from Washington was swift and severe:

FDA Intervention: Last Friday, the FDA announced “decisive steps” to restrict compounding pharmacies from mass-marketing GLP-1 ingredients. Commissioner Marty Makary explicitly warned against illegal copycat drugs that have not undergone the agency’s gold-standard review.

DOJ Referral: The Department of Health and Human Services ...