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Motley Fool: Red Hat's Woes May Yield Reward

Jul 14, 2004, 14:30 (0 Talkback[s])
(Other stories by Seth Jayson)

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"Talk about a perfect storm. First, the CFO quits, and then the firm turns in a great quarter--but not great enough--and now this. Linux software provider Red Hat was drenched by a massive wave of investor fear yesterday upon announcing that it would be restating three years' worth of earnings. The stock dropped 22%.

"If you click that link above, you'll see that I had warned that Red Hat looked overvalued, but don't expect any 'I told you so' out of me today..."

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