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Business Week: Why Corel's Sudden Liftoff Could Quickly Return to Earth

Sep 01, 1999, 21:10 (7 Talkback[s])
(Other stories by Sam Jaffe)

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"Oddly, its stock got a boost from Sun's announcement of a free software suite that ultimately could hurt Corel badly."

"It had to happen. The same weird things that sent Internet stocks skyward are now infecting stocks that are associated with Linux -- the upstart open-source operating system that many view as a viable competitor to Microsoft's NT operating system. So far this month we've had an initial public offering for software distributor Red Hat (RHAT) that quadrupled in its first day, frantic rumors of other imminent IPOs from Linux companies like hardware manufacturer VA Research, and a host of also-ran stocks that have gotten a boost thanks to obscure connections with Linux..."

"Corel has struggled with margins for a long time," says Nutmeg Securities analyst Jean W. Orr, who rates the stock a buy for speculative investors. But Orr also figures that "in the past year, WordPerfect has been producing more revenue and profit than ever before."

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