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CBS MarketWatch: Red Hat stays red hot

Aug 12, 1999, 19:45 (4 Talkback[s])
(Other stories by Steve Gelsi)

"Shares of Red Hat stayed red hot Thursday even as a bevy of new issues decided to take the rest of the summer off."

"After racking up the seventh-best first day performance of the year, Red Hat... quickly piled on big gains on its second day of trading."

" 'This truly speaks to the quality of the deal,' said Ben Holmes, founder of IPOPros.com. 'This is a real company. We're seeing a world class company come to market.' "

" 'It's obvious it was going to do well because it's playing to the fear and loathing for Microsoft,' Gail Bronson, senior analyst for IPO Monitor and founder of InternetAssist Ventures of Silicon Valley said on the opening day. 'The question is, Can they sustain it?'

For now, the answer seems to be 'yes.' "

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