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CNET News.com: Red Hat CFO discusses ups and downs of Linux

Apr 20, 2000, 21:50 (1 Talkback[s])
(Other stories by Stephen Shankland)

"Record pops in stock prices fueled by exuberance for the comparatively new operating system have been replaced by a more gloomy reality in which several Linux stocks have sunk below their initial public offering prices."

"Red Hat chief financial officer Hal Covert said in an interview that it hasn't been pleasant watching the company's stock price plummet. "We're always concerned when our stock price goes down," Covert said. But the company, he added, is undaunted."

"Some of the diminished investor enthusiasm for Linux is a hangover from the sour experience some investors had with unprofitable Internet companies, he said. At the same time, he added that "some of the Linux companies (are) overvalued relative to their business plan."

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