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Reuters: Applix shares continue to soar on Linux hopes

Aug 30, 1999, 16:07 (0 Talkback[s])

[ Thanks to Benno Senoner for this link. ]

"Shares of Applix Inc., a maker of Java-based business software, soared for a second straight trading session Monday amid Internet chat-room speculation that the company is poised to become a darling of the trendy Linux software movement, analysts said."

"Westboro, Mass.-based Applix was the most active issue on the Nasdaq stock market in morning dealings, gaining $4.50, or 27 percent, to $21 on volume of more than 5.6 million shares. The stock gained $6.50 on Friday to close at $16.50."

"Rick Berry, an analyst with brokerage J.P. Turner & Co., said Applix was rising on investor hopes that the stock would emerge as a new star of the Linux firmament, joining Red Hat Software, which is up 450 percent from its Aug. 11 stock market debut."

Complete Story

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