Shares of Talkspace (NASDAQ: TALK) popped by more than 20% in pre-market trading on Monday after a Calcalist report that Amwell (AMWL) is in discussion with TALK to pay $1.50 per share for the company.
The deal, if it happens, would represent a 150% premium to TALK’s closing price of $0.60 on Friday.
Shares of the Israel-based virtual behavioral healthcare company have cratered by more than 70% in the past year even as it went public through a Special Purpose Acquisition Company (SPAC) deal last year.
The company has struggled since it went public and on a more worrying note, TALK’s CEO and co-founder, Oren Frank also stepped down earlier this month.
Wall Street analysts are sidelined about TALK stock with a Hold consensus rating based on two Holds.
