Shares of Hims & Hers Health Inc. (HIMS) took a sharp 5.03% dive in pre-market trading on Wednesday, following a remarkable 18.1% surge the previous day. This volatility comes in the wake of the company's mixed first-quarter earnings report and lower-than-expected future guidance.

On Tuesday, Hims & Hers Health, a telehealth company specializing in personal care and wellness products, reported first-quarter earnings that surpassed Wall Street estimates. However, the company also introduced long-term sales guidance that fell short of market expectations. For the second quarter, Hims & Hers projected revenue between $530 million and $550 million, significantly below analysts' expectations of $564.6 million.

The pre-market plunge on Wednesday appears to be a correction following Tuesday's enthusiastic market response. Investors seem to be reassessing the company's outlook in light of the softer revenue guidance, despite the better-than-expected quarterly results. This rapid shift in sentiment underscores the market's sensitivity to future projections, especially for growth-oriented companies in the competitive telehealth sector.