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Shrinking Sun Under the Gun

Jul 11, 2008, 13:30 (2 Talkback[s])
(Other stories by Ashlee Vance)

"Here, with the stock market melting, we find Sun Microsystems in most uncomfortable territory. It's got a stock market value of $7.7bn, which means that the one-time lord of the servers is a mid-cap company.

"Our friends on Wall Street warn that Sun needs to maintain at least a $10bn market capitalization to stay in the large cap territory and part of the large cap funds. Should Sun hang around in $7bn country for too long, then a sell-off will start, making things even worse on Sun investors. (In addition, a whopping 57m shares, nearing 10 per cent of all out-standing shares, are already shorting Sun, up from 25m last month...)"

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