Why Talkspace Plummeted by 36% Today

Online therapy-services provider Talkspace (NASDAQ: TALK) had quite a day on the stock market Tuesday, but that was far from a good thing. A major development in the C-suite and a quarterly revenue miss combined to drive the company's share price down a very steep 36%.

After market hours on Monday, Talkspace released its Q3 results. These reveal that the company earned $26.4 million in net revenue for the period, 23% higher on a year-over-year basis. That was on the back of 21% growth in the number of the company's total active members (to roughly 60,300). Net income came in at $1.5 million ($0.01 per share), representing a flip from the $2.7 million loss of Q3 2020.

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Source Fool.com