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VC-Backed Talkspace Plunges as SPAC Investor Takes the Reins (1)

Nov. 16, 2021, 9:13 PM

Talkspace Inc. sank 36% on Tuesday, the most since merging with a blank check company earlier this year, after its third-quarter report came up short on sales.

The online mental health company has lost almost half its market value over the past two weeks in a rout that deepened Tuesday after it withdrew its guidance and Chief Executive Officer Oren Frank left the company.

,Source: Bloomberg

The venture capital-backed firm touted by Michael Phelps and Demi Lovato is now worth about $329 million after going public in a $1.4 billion deal with Hudson Executive Investment Corp., a special purpose acquisition company ...