Babylon stock price rose 20% amid acquisition rumors

Digital health company Babylon's stock price rose 20 percent Aug. 15 amid rumors of a coming acquisition.

The sharp rise in stock price led to the New York Stock Exchange stopping trading of Babylon common stock. Babylon has not had any discussions with a potential acquirer, according to the Aug. 15 Babylon news release.

By the end of the day Aug. 15, the stock had fallen 5 percent as the company attempted to shut down the speculation, according to The Motley Fool.

The acquisition rumors come after Babylon reported strong second-quarter earnings.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars