6Mês·

Regrouping 2

RW · 2026-01-21T09:17:01.174225Z

The following shares are history: $PANW $TEAM $175 $PYPL $RDC New: $HIMS $NFLX Increased: $DRO Let's see if this change is worth it!

The following shares are history:

$PANW (+1,4%)
$TEAM (+1,1%)
$175 (-1,51%)
$PYPL (+0,4%)
$RDC (+1,13%)

New:

$HIMS (+1,67%)
$NFLX (+0,67%)

Increased:

$DRO (+4,51%)

Let's see if this change is worth it!

11 Comentários

Chris@Multibagger

6Mês

What do you expect from $HIMS. You have massively declining margins due to sharply rising marketing expenses and price cuts. There is also the threat of further regulatory intervention.

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RW@SeidoPacero

6Mês

@Multibagger I think they are part of the medical future. Are now profitable with the subscription model. Which share would you have chosen?

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McZed@McZed

6Mês

@Multibagger I don't take such a critical view of marketing now, as Hims is continuing to expand. Hims is currently aggressively buying customers into the subscription models. This is squeezing margins now, but could pay off in the future, especially with this model. It would be problematic if the marketing costs for new customers are permanently high or prices are so low that revenue per customer, and therefore customer lifetime value, falls significantly. Incidentally, the repurchase rates and average subscription duration at Hims currently remain stable at a high level.

On price reductions: Definitely something to keep an eye on, but prices are not falling across the entire product range, only selectively. In addition, HIMS earns money not only from the medicine itself, but also from the subscription model, telemedicine, various personalized and cross-selling offers direct to consumer.

So the business model is very different from traditional big pharma, which is why I definitely see regulation as a risk, but not as super acute for the whole business model

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Chris@Multibagger

6Mês

@SeidoPacero in this segment, or in general?

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RW@SeidoPacero

6Mês

@Multibagger In general, you often have interesting takes that not everyone has on their radar.

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Chris@Multibagger

6Mês

@SeidoPacero yes, but I'm not necessarily known as a long-term investor here either. I find $LMND interesting, or $TEM, I have also made good money with $HIMS in the past. But since the crash from the high, they haven't been able to get back on track. That doesn't mean that they are a bad stock, but they no longer fulfill my return expectations in any way. That's why I sold them last week at around plus/minus 0.

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Habicht128@Habicht128

6Mês

@Multibagger where do you see that hims has increasing marketing expenditure? Relative to sales, marketing expenditure has been falling for several quarters. Of course they are rising in absolute terms, but that's not important.

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Habicht128@Habicht128

6Mês

@Multibagger and margins are currently falling mainly due to increased personnel expenses, which I see as positive in the long term

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Chris@Multibagger

6Mês

@Habicht128 I would rather put it in relation to how much marketing expenditure is required per newly acquired subscriber. After all, that's what the future is all about. In my opinion, sales will fall this year due to the termination of the cooperation with $NOVO B and the ban on offering these products, even in a modified form. And I haven't even factored in the risk of lawsuits. But again, I'm not saying it's a bad company over the next 2-3 years. But I don't believe that they will achieve my return expectation of a price increase of around 5% p.m. holding period in the portfolio this year. That is simply the criterion I have defined. Please never forget that in my assessments.

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Jan@Barrd

6Mês

Why did you throw out $PANW?

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RW@SeidoPacero

6Mês

@Barrd Although they should be performing, they are not. The share is stagnating or falling again and again.

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