“Shares of Red Hat Inc., surged 40 percent to levels analysts
called “nosebleed territory” Thursday, giving the distributor of
the Linux operating system a market capitalization of nearly $5
billion a day after its debut.”
“These levels are nosebleed territory and the stock does not
belong at these levels,” said David Menlow of the IPO Financial
Network in Millburn, N.J. “It’s totally unsustainable.”
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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