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Forbes: Corel to benefit from Linux mania

Oct 28, 1999, 05:52 (1 Talkback[s])
(Other stories by Lisa R. Goldbaum)

[ Thanks to Dominic Duval for this link. ]

"The open-source Linux operating system has generated huge financial windfalls for companies like Red Hatwhich has seen its stock climb more than 100% from $40 a share when it first started trading in August to its current level of about $87. That's good news for struggling Canadian software maker Corel, which could be the next company to benefit from Linux mania when it releases its own version of the OS, Corel Linux, next month at the COMDEX trade show in Las Vegas."

"Some market pundits are expecting the official launch of Corel Linux to light a fire under the company's dormant stock, which as of Wednesday afternoon was trading at $5.56 a share and for the most part has drifted in the $2 to $8 range for the past three years. Duncan Stewart, portfolio manager at Toronto-based Tera Capital believes the stock could jump as much as 20% on the launch--an estimate he considers conservative. "One of the nice things about playing in the Linux market is that sometimes just the announcement itself is good enough [for a pop in the stock]," he asserts. "Corel is a good sleepy business and this will provide the sizzle."

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