"Next week, Wall Street crapshooters will decide how much
hot air is left in the Linux balloon. Caldera Systems
(proposed Nasdaq symbol: CALD), a vendor of the Linux operating
system whose products are used mainly on Web servers, plans to sell
about $40 million's worth of stock to the public around March 17.
The initial public offering (IPO), underwritten by Robertson
Stephens, is expected to be priced at about $8 a share. It is
currently getting a Red Hot reading on our IPO calendar. If the
initial public offering of 5 million shares follows the same
trajectory as other Linux offerings, watch out."
"All four of the recently public Linux contenders have meager
revenues and large losses. Some are growing rapidly on a percentage
basis, but not nearly fast enough to justify their post-market
highs on Nasdaq."
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