WebMD Stock Rises Rapidly After IPO
By Rafat Ali - Thu 29 Sep 2005 10:10 AM PST
WebMD (NSDQ: WBMD), the health information spinoff from the original WebMD (the other company is now called Emdeon) debuted its IPO today and its stock rose as much as 71 percent in its first day of trading. It opened for trading at $19.80, up from its $17.50 IPO price, then rose rapidly, hitting a high of $30 a share.
WebMD drew strong investor interest despite its poor financials. The company has been profitable in just one year—2004—since 2001, and its losses have been mounting recently, with expenses outpacing rising revenue.
Posted in: Information, Biz & Fin, Media, Health Content
Tags: webmd,
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