The ongoing conflict between Israel and Gaza has had ripple effects beyond the tech industry. Hims & Hers Health Inc, a company specializing in male hair loss and erectile dysfunction treatments, saw its stock plummet by over 11% after CEO Andrew Dudum offered to hire university students participating in anti-Israel protests. The company's value dropped by $200 million as a result of the backlash to Dudum's tweet. Many social media users criticized Dudum for his statement, and the incident highlights the intersection between business and political issues [582179c8].
This controversy comes after Dudum had previously called for a ceasefire in Gaza in a blog post, showing his concern for the ongoing conflict. However, his offer to hire protestors sparked outrage and led to a significant decline in the company's stock value. The incident serves as a reminder of the potential consequences that business leaders may face when they wade into political debates [582179c8].