AllLinuxDevices: Transmeta shares soar despite Crusoe doubtsNov 08, 2000, 13:43 (0 Talkback[s])
(Other stories by John Geralds)
"Shares in Transmeta rocketed by 115 per cent on the US startup's first day of trading yesterday, despite fresh speculation that Compaq and Toshiba have cancelled Crusoe projects."
In a note issued to customers on Tuesday, Piper Bancorp analyst Ashok Kumar claimed Compaq and Toshiba have scrapped plans to develop Crusoe-based laptops, and that Intel is now targeting the low-power market which Transmeta is focused on.
"However, representatives from both Toshiba and Compaq said they are still evaluating the Crusoe chips and have not made firm decisions. Recently a Toshiba UK executive expressed doubts about Crusoe's performance claims."
"Trading in Transmeta shares began at $21 on Tuesday and closed at $45.25 - putting a $5.7bn valuation on the Intel contender. Transmeta had already sold 13 million shares at $21 to institutional investors on Monday, beefing up its coffers by $273m."