Re: Want to add news section

[Aaron Turner <aturner@linuxkb.org>]

On Sun, 15 Aug 1999, Micah Yoder wrote:

> Aaron Turner wrote:
> 
> > BTW, everyone notice what Red Hat (RHAT) is trading at?  $85/share!  I
> > seriously didn't think it would do so well for so long.  If figured it
> 
> Shut up!  :-)  I'm KICKING myself for not buying it at $40-$45 (I was
> watching it closely in the minutes after it openned).  The ONLY reason
> I didn't is because I got screwed with MP3.  I thought I "learned my
> lesson" about jumping

Bummer.  Don't feel too bad, my friend was going to buy Juniper Networks
stock when they did their IPO a few weeks back.  He told his broker to buy
at under $55 (IPO at $14).  It opened at $95 and is now trading at
$195.

> on hot IPOs...  I was planning to buy it at a limit of $20-$30.  
> Today I tried placing an order to short sell it (there's NO WAY it's
> going to stay at $85 - that's a valuation of $5 billion! (of course, I
> said the same thing about Amazon.com just before it quadrupled)) but
> it wouldn't let me (no shares to borrow).

You're probably luckly they wouldn't let you short it.  Red Hat isn't a
'free software company'.  They're a 'software service company'.  5 or 6
billion isn't that off the wall at all.  After all, think about it.  If
you're some fortune 1000 company CIO/CTO and you want Linux support
services are you going to by it from LinuxCare (who?) or that hot IPO
company Red Hat which everyone knows sells *the* only approved version of
Linux. (sic) Reality be damned, perception is all that matters.  Red Hat
has the corporate mindshare, and that's what you need to be a sucessful
computer services firm.

I'm not saying it will stay at $85, but long term it will do quite well.
With only 6mill shares available for trading, it actually might take quite
a while before profit taking flippers effect the price of the stock.
Especially with the MS trial coming to an end.  

> You didn't get "the letter" did you???

:-)

--
Aaron Turner, Core Developer       http://vodka.linuxkb.org/~aturner/
Linux Knowledge Base Organization  http://linuxkb.org/
Because world domination requires quality open documentation.