E-Commerce Stock Watch: Big Day For HealthAxis.com
Shares of insurance compay Provident American Corporation (Nasdaq: PAMC) climbed 2-3/8 to 38-5/8 on Thursday after its subsidiary HealthAxis.com made two big announcements.
HealthAxis.com, which sells health insurance online, first announced that it had completed a private placment to raise $6.2 million in capital, with investments by global asset management firm Tudor Investment Corp. and national health benefits company First Health (Nasdaq: FHCC).
Then HealthAxis.com and First Health announced a strategic alliance to make First Health the primary independent managed care network partner for HealthAxis.com's portfolio of health insurance carriers. Shares of First Health climbed ¼ to 17-3/8.