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FDA issues warning on hair-loss treatment sold on Hims & Hers

The FDA warning letter doesn’t prevent the company from continuing to sell the treatment, but may be a sign of future enforcement.

J. Edward Moreno
4/22/25 12:03PM

The Food and Drug Administration issued a warning over topical finasteride, a topical hair-loss treatment sold by telehealth providers like Hims & Hers.

The FDA has approved two oral finasteride treatments but has not approved any topical treatments that typically come in a spray format. The FDA warning letter doesn’t prevent the company from continuing to sell the treatment, but may be a sign of future enforcement.

The FDA noted that patients reported not being warned about side effects. Unlike drugmakers, telehealth companies like Hims do not have to disclose side effects in their advertisements. The process of getting a prescription through platforms like Hims often takes just a few minutes.

The agency said it received 32 adverse effect reports for topical finasteride from 2019 to 2024. “In the reports, consumers said they wished they had been informed about the possible side effects,” the warning said. “Some consumers expressed they became very depressed, suffering with pain and their lives were ruined because of these symptoms.”

Hims did not immediately respond to a request for comment.

Last month, in a Wall Street Journal story highlighting patients who had negative experiences with topical finasteride, a Hims spokesperson said the company is transparent with patients about side effects.

Hims — the only one of its peers that’s publicly traded — was down about half a point on the news, about three points lower than its intraday high.

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Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

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Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks. 

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

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Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’sbig, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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