2023-12-21 21:07:00
Talkspace Company Stock on the Rise
The American-Israeli company, Talkspace, saw its shares increase by 2.29% recently, reaching an all-time high during the ongoing war. Talkspace operates as a virtual health company and offers psychotherapy and psychiatry services through its platform for individuals, organizations, and health funds. The company’s stock has already risen almost 400% since the low it reached in November last year, and it seems that this is not the end.
Founded in 2012 by the couple Ronnie and Oren Frank, Talkspace was issued through the Spak merger at a value of 1.4 billion dollars in the summer of 2021. The company flourished during the Corona period, leading to multiple purchase offers at a value of 700 million dollars and even 800 million dollars. The insurance companies and companies in the psychological field also began to investigate and saw a huge potential. However, the company relied mainly on private customers, so an IPO was planned to reach a profit.
The shareholders were blinded by the possibility of an IPO at a value of 1.4 billion dollars, but the company’s stock traded in decline until it reached a price of less than a dollar before finding a bottom. In its reports for the third quarter, Talkspace recorded a loss per share of 3 cents on revenues of $38.65 million, in line with Wall Street expectations. The company’s revenue exceeded analysts’ expectations of $36.17 million, and it expects revenues of 146 million dollars for 2023. Recently, Talkspace has appointed new board members and started a collaboration with Evernow, and with public schools in Baltimore, USA, to provide students with online therapy services.
The health care company now trades at a value of 409 million dollars, with a stock that increased by 302% since the beginning of the year and by 241% in the last year as a whole. After the stock reached an all-time high during the Corona period, it seems that now even during the war, it is seeing an increase in demand.
#stock #rose