Drkoop Seeks to Prevent Removal From Nasdaq

Share this article:
Drkoop.com, Austin, TX, is prepared to call a stockholder meeting to prevent its stock listing from being removed from the Nasdaq stock exchange, the company said yesterday.


Nasdaq has notified drkoop.com that its stock has been trading below $1 for 30 consecutive days. The stock exchange required drkoop.com to demonstrate compliance with its listing rules or else face removal of its listing.


Drkoop.com said it would ask its stockholders to vote on a reverse stock split to bump up the trading price if necessary. The company's stock, which hit a 52-week high of $19.88 on Dec. 9, 1999, hit a 52-week low on Dec. 5 at 50 cents per share.


The health portal has weathered a stormy year in 2000, during which it has sought to cut millions of dollars in expenses. Drkoop slashed 35 percent of its work force in May and said it had only $2 million in cash reserves at the end of the second quarter. In August, the company reduced its staff from 120 to its current level of about 80 employees and named a new president, CEO and chief financial officer.
Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

News Byte: Comcast Expanding Global Ad Delivery Through Partnership

News Byte: Comcast Expanding Global Ad Delivery Through ...

Through a partnership with Adstream , Comcast's AdDelivery Service expands its footprint across the globe.

40 Under 40 2014: Nominations Are Now Open!

40 Under 40 2014: Nominations Are Now Open!

It's time to nominate the 2014 crop of young marketing luminaries for Direct Marketing News's 40 Under 40 Awards. The deadline is Friday, June 6, 2014.

News Byte: MediaCrossing Partners with ASL Marketing on Youth Marketing Tool

News Byte: MediaCrossing Partners with ASL Marketing on ...

The digital media trading firm and marketing database company aim to help marketers target 13 to 34 year olds.