The initial public offering of drkoop.com, the online healthcare network founded by former U.S. Surgeon General C. Everett Koop, had a strong showing on Tuesday. Shares of DrKoop.com, which includes health news and an online pharmacy, closed up nearly 83 percent, rising 7-7/16 to 16-7/16.
The volume of 26.5 million shares traded was heavy, especially considering that only 9.375 shares were offered for trading. The strong performance by drkoop.com, which features interactive communities that discuss everything from addiction/recovery and women’s health, is an encouraging sign given the recent volatility in the Internet sector.
And C. Everett Koop has to be rather happy. His stake in the company is now worth more than $40 million.