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CNNfn: Red Hat Shares Leap In First Day Of Trading

Aug 12, 1999, 19:32 (2 Talkback[s])
(Other stories by Laura Randall)

"Shares of Red Hat... shot up $26 more than their asking price in their first day of public trading, making the largest maker of Linux software a clear winner in an otherwise lackluster week for Internet stocks."

"David Menlow, president of IPO Financial Network, called Red Hat's offering 'the best deal on the board this week.'

But whether the company's share price will continue upward is another question, Menlow told Newsbytes. 'It's still unclear as to whether the hype surrounding Red Hat (as a Microsoft aggressor) will come to any kind of fruition,' Menlow said."

"On the one hand, Linux fans want to see Wall Street embrace their community-based operating system. But others worry that Red Hat's 'corporatization' could mean the beginning of the end of Linux's community-based 'share and share alike' vision."

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