Drkoop Seeks to Prevent Removal From Nasdaq

Share this content:
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.
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here