Babylon Holdings (NYSE:BBLN) stock is on the rise Thursday after the company completed a special purpose acquisition company (SPAC) merger last week.
With Babylon Holdings completing that merger about a week ago, some investors might be wondering why it’s heading higher today. It all has to do with the company’s upcoming earnings report.
Babylon Holdings intends to release its first earnings report as a publicaly-traded company before markets open on Friday. The company will follow this up with a conference call discussing the results at 8:00 a.m. Eastern Time.
It makes sense that BBLN stock would see a boost before earnings. That’s pretty normal as investors take interest in a company with hopes of positive results. To go along with that, trading of BBLN stock isn’t doing bad today, either.
As of this writing, more than 500,000 shares of BBLN stock have changed hands. That might not seem like much, but it’s quickly approaching the company’s daily average trading volume of 670,000 shares. I’ve also got to point out that the company’s sub $10 price makes it easy for a wider breadth of investors to take a stake in.
Keeping all of this in mind, here’s a few quick facts about Babylon Holdings.
- Babylon Holdings is a digital-first, value-based care company.
- Its goal is to “make high-quality healthcare accessible and affordable for everyone.”
- The company was founded in 2013 and went public last week via a SPAC merger with Alkuri Global Acquisition Corp.
- Leading the company is founder, director, and CEO Ali Parsadoust.
- The company’s current market capitalization is sitting at $3.994 billion.
BBLN stock was up 3.3% as of Thursday morning.
There’s more stock market news worth checking out below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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