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TechWeb: Red Hat IPO Rockets

Aug 12, 1999, 18:40 (2 Talkback[s])
(Other stories by David Kleinbard)

"The company's investors are betting Red Hat's version of the Linux operating system will someday be a viable competitor to Microsoft's Windows NT."

"David Menlow, president of IPO Financial Network in Millburn, N.J., said Red Hat's stock is overpriced at $47 per share, and he said he expects it to decline substantially over the next two weeks."

"Red Hat investors shouldn't expect to see profits any time soon. The company said in a filing with the Securities and Exchange Commission that it expects to 'incur significant losses for the foreseeable future and cannot be certain when or if [it] will achieve profitability.' "

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