George Paphitis

$hims revenue up 1,478% since IPO stock up 122%

$AMZN just launched a national GLP-1 weight-loss program. Injectable treatments start at $299 per month while oral options start at $149 per month.

Don’t sleep on what’s happening underneath.. Everyone’s still chasing GPUs… but this is CPU resurgence + agentic AI. Agentic AI needs massive CPU orchestration => clusters moving back toward ~1:1 CPU:GPU ratios That’s why CPU demand just snapped: AMD/Intel seeing 20–30% spikes Winners: $AMD: taking share + higher ASPs (cleanest play) $ARM: AGI CPU = new $100B+ TAM (but messy with partners) $TSM: raising prices 5–10% (no alternative) $ASML: EUV monopoly, every node = more demand $MU: HBM locked out, pricing power exploding Meanwhile most are still chasing $NVDA. The real money is moving across the stack, not just at the top.

$HIMS BIG short playbook update (based on S3 + Fintel data).. We’re likely still in the pre-ignition phase. A quick update: the breakeven levels floating around are estimates not a single exact number, because the ~85M short shares were opened across many different periods and prices.. there isn’t one breakeven price for the whole book, it depends on which short cohort you look at and different models produce different numbers. So the entire short book is NOT underwater yet. Looking at the full NYSE short-interest history, most of the ~85M shares short were opened in 2025 when $HIMS traded $40–55, so the aggregate short cost basis is likely around ~$40.. But the setup may actually be more interesting now. During the $NVO rally the stock jumped ~60%, yet short interest increased from 81.0M to ~85M shares (~41–42% of float). In other words: shorts didn’t cover but they added. Daily data shows ~60–65% short volume, meaning a large portion of trading was still coming from the short side trying to lean on the move. At the same time, borrow availability repeatedly dropped to zero, signaling that the pool of shares available to short is tightening. The key pressure point isn’t the old 2025 shorts yet, many of them are still profitable. .. the weak link is the newer cohort: the ~18M shares shorted in Jan–Feb 2026 around ~$19–20 during the DOJ/FDA panic. With the stock around $26–27, that cohort is already ~30–35% underwater. So the risk for shorts isn’t that the whole book is red today. The risk is that newer shorts are trapped while borrow supply is tightening and older shorts are still leaning into the trade. That’s the kind of setup where squeezes can become reflexive rather than orderly. The realistic path is to go from $27 to $35–40 over several weeks. That forces the 2026 shorts to cover first, gradually reducing SI. If another catalyst hits while borrow stays tight, the move can accelerate toward $50+ as the 2025 cohort approaches breakeven. What I’m watching 1. Borrow fees rising above ~5% 2. Short interest finally dropping 4. Price holding > $30 $HIMS Prices to watch: 1. < $30: Only DOJ cohort really under stress, other cohorts still nicely in the money. 2. $35–40 zone: Late-2025 shorts start to feel real pain but base cohort still green. 3. $40+: This is where most shorts converge toward breakeven and the structural squeeze risk inflects, funds that were up triple digits see their gains erased and start competing to exit. Right now the key takeaway is simple: Shorts didn’t cover the rally. They added. And that keeps the setup very much alive.