Shares of Hims & Hers Health (NYSE: HIMS) rocketed 23% higher this week. The telehealth platform that is focused on making getting treatment affordable and streamlined seems to still be riding high on its recent announcement of adding weight loss drugs to its product portfolio.

The stock is up 55% in the past month and over 117% in the last 12 months.

On May 20, Hims & Hers announced it would be launching its own branded GLP-1 medicines. These are the revolutionary weight loss drugs that have been taking the globe by storm, due to the fact they are apparently effective in getting people to lose weight. However, Hims & Hers' are coming to the market at a relatively cheap price of $199 a month compared to the $1,000 current patients of GLP-1 products might be paying.

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Source Fool.com