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Forbes: Linux Madness 1.0

Dec 09, 1999, 23:20 (20 Talkback[s])
(Other stories by Lisa R. Goldbaum)

[ Thanks to Thomas for this link. ]

"Larry Augustin, welcome to the Forbes 400 Richest People in America list. Your seven million VA Linux Systems (nasdaq: LNUX) shares are now worth $2 billion. A decade ago, when Augustin started the Sunnyvale, Calif.-based Linux computer maker, he had no idea that he would one day take his company public amid Linux mania on Wall Street."

"After being priced at $30 a share, the Linux boxmaker opened today at $299 a share, with more than a million shares traded in first few minutes of trading. Then again, what can you expect from a company whose ticker is LNUX? "This is absolutely absurd. A million shares traded at the open, which means there were a million buyers for this stock," says Hugh Johnson, chief investment officer at First Albany Corp., an Albany, N.Y.-based investment bank."

"A veteran of many a mania, Johnson says he has not seen anything like this. These days, anything that touches Linux turns to gold. Companies are falling all over themselves to become part of the craze and to hold hands with the King Midas of the Linux world, Red Hat (nasdaq: RHAT), whose own stock has skyrocketed more than 425% since the company's IPO in August."

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