Hims CEO walks back his support of college campus protesters after widespread boycott that tanked shares by 10%

The CEO of Hims has walked back his support of anti-Israel campus protesters after the male hair loss company’s stock dropped by 10 percent amid a boycott sparked by his comments.

Andrew Dudum, who identifies as Palestinian-American, clarified his previous comments in which he offered jobs to the university protesters, saying his words can been ‘misconstrued my some.’

He wrote on X on Sunday: ‘I, in no way condone nor support acts or threats of violence, antisemitism, or intimidation and there is absolutely no justification for violence on our campuses… I am deeply saddened that my support for peaceful protest has been interpreted by some as encouraging violence, intimidation, or bigotry of any kind. 

‘I do believe deeply in the right for people to use their voices in peaceful protest to drive change. This right is critical to our democracy and must be protected…. Generations of Americans have engaged in non-violent protest…

‘As a father whose children are both the descendants of Palestinian refugees who fled the Nakba in 1948, and the descendants of Holocaust survivors from Poland, as I have previously shared, I have a personal appreciation for the different perspectives people have which I live with daily at my dinner table. I hope and pray for peace and for an end to violence everywhere.’

Dudum’s clarification comes after critics unleashed a boycott of the company, which has seen its stock fall by more than 10 percent over the last five days. 

Hims stock dropped 8 percent on Friday, wiping out nearly $210 million in stock value in just one day.

The CEO previously said of the protests: ‘Moral courage > College degree,’ the CEO, 35, wrote on Wednesday. ‘If you’re currently protesting against the genocide of the Palestinian people & for your university’s divestment from Israel, keep going. It’s working. There are plenty of companies & CEOs eager to hire you, regardless of university discipline.’

The significant drop came just two days after Dudum’s controversial post – which sparked immediate backlash – though it’s unclear whether the recent drop is directly related.

The 10 percent decrease in price comes amid a 14 percent downward trend since May 1, when its price was $13.10. 

The company’s chief legal officer had also pre-arranged a sale of $31,000 worth of stock in September that was put into affect on May 1 – which could explain why investors are pulling stock out of the company since then.  

Last week, conservative writer Ben Domenech wrote of Dudum: ‘If you support Israel, cancel your HIMS subscriptions immediately. You can get similar products elsewhere for cheaper anyway.’

Joe Lonsdale, co-founder of software company Palantir Technologies, also weighed in, saying, ‘Real moral courage doesn’t involve joining a mindless mob, chanting anti-U.S. and other woke Pablum, following instructions not to debate or discuss your positions at all yet being indignantly righteous, while large numbers in the mob chant for violence and block Jewish students.’

Many pointed out that Dudum may be harming the interest of shareholders who may not agree with him, given that HIMS is a publicly traded company.

Others shared screenshots of the cancelation of their subscription, with one X user writing as the reason: ‘Your CEO supports Hamas.’

Dudum, who has said he has family in Gaza and the West Bank, founded HIMS in 2017. 

In his comments on Sunday, Dudum linked to a blog post he posted in November calling for a ceasefire and lamenting that companies were still supporting Israel after its counterattack had already killed an estimated 10,000 Palestinians.

‘Now, a month past the October 7th attack, we find ourselves in a world where Israel has killed an estimated 10,000 Palestinians with over 4,000 innocent children in a military response that nearly all international experts decry as violations of international law and human rights,’ Dudum wrote.

And the messages of unequivocal support for Israel are still sitting on our corporate pages — untouched nor updated.’

In the Medium post, Dudum described himself as ‘a father whose children are both the descendants of Palestinian refugees who fled the Nakba in 1948, and the descendants of Holocaust survivors from Poland.’

The entrepreneur, who is also an accomplished cellist, was born and raised in San Francisco and dropped out from the prestigious Wharton School of the University of Pennsylvania.

He is married to Lea Dessi-Olive, CFO at floss company Cocofloss.

Dessi-Olive’s last activity on X show she is also passionate about the Palestinian cause, as she shared posts accusing Israel of apartheid.

In another post from September, 2021, she shared a video of John Legend criticizing Israel. The couple also shared a picture with the singer the same month.

Dudum’s stand comes in contrast with other CEOs who have said they will not hire students participating in the pro-Palestine protests.

Bill Ackman, head of Pershing Square Capital Management, announced that he would not hire students from Harvard who signed a letter allegedly blaming Israel for Hamas’ October 7 attack on Israel. 

‘Shark Tank’ star Kevin O’Leary said that pro-Palestinian are ‘screwed’ because companies will be able to use AI technology in the hiring process to weed out any supports of the anti-Israel movement and refuse to hire them. 

‘Here’s your résumé with a picture of you burning a flag. See that one. That goes in this pile over here, cause I can get the same person’s talent in this pile that’s not burning anything,’ O’Leary said on Fox News’ ‘The Five‘ on Wednesday.

Police have arrested nearly 2,200 people during pro-Palestinian protests at college campuses across the United States in recent weeks, sometimes using riot gear, tactical vehicles and flash-bang devices to clear tent encampments and occupied buildings.

More than 100 people were taken into custody during a Columbia crackdown, just a fraction of the total arrests stemming from recent campus protests over the Israel-Hamas war.

A tally by The Associated Press recorded at least 56 incidents of arrests at 43 different US colleges or universities since April 18. The figures are based on AP reporting and statements from universities and law enforcement agencies. 

Israel has branded the protests anti-Semitic, while Israel’s critics say it uses those allegations to silence opposition. 

Although some protesters have been caught on camera making anti-Semitic remarks or violent threats, protest organizers call it a peaceful movement to defend Palestinian rights and protest the war.

President Joe Biden on Thursday defended the right of students to peaceful protest but decried the disorder of recent days.

The demonstrations began at Columbia on April 17 with students calling for an end to the Israel-Hamas war, which has killed more than 34,000 Palestinians in the Gaza Strip, according to the Health Ministry there.

Israel launched its offensive in Gaza after Hamas militants killed about 1,200 people, mostly civilians, on October 7 and took roughly 250 hostages in an attack on southern Israel.