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CBS MarketWatch: Corel CEO says stock rise is for real

Dec 10, 1999, 06:44 (0 Talkback[s])
(Other stories by Mike Tarsala)

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"Canadian software maker Corel Corp., one of the hottest software companies this quarter, shot up again on Thursday thanks to the VA Linux IPO and the strength of Linux software."

"Corel (corl) shares have enjoyed meteoric gains, up more than six-fold from early November. Shares have rocketed 193 percent from its low on Dec. 1 to its intraday high on Thursday. Almost all of its gains come due to market excitement for the company's ties to the snowballing Linux movement...."

"Anybody who touches stocks in certain spaces right now is going to see some updraft -- and Linux is one of them," said Mark Dicioccio, head of the West Coast Technology Group for Lehman Bros. "With Corel, there's a certain degree of buy-first, ask questions later. Longer term, management always matters."

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