“The shares of Red Hat Software Inc. more than tripled after its
initial public offering Wednesday, shaking off any doubts created
by the recent sell-off in technology stocks.”
“But Red Hat’s gains did not change the broad picture for the
IPO market, which has deteriorated as U.S. stocks waver amid fears
of a further increase in interest rates.
” ‘This has zero to do with the IPO market. It reinforces that
when the broad Internet market settles down to better
valuations, investors will be there for the right stocks at the
right prices,’ said David Menlow of IPO Financial Network in
Millrun, N.J.”
Web Webster has more than 20 years of writing and editorial experience in the tech sector. He’s written and edited news, demand generation, user-focused, and thought leadership content for business software solutions, consumer tech, and Linux Today, he edits and writes for a portfolio of tech industry news and analysis websites including webopedia.com, and DatabaseJournal.com.
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