Screaming Penguin - Source Does Matter

Well the RedHat IPO was a Wall Street success despite some serious concerns as of late. Even so, this was another clear example of ridiculously overvalued tech stocks. I believe RedHat has a great philosophy and business model, and that the Linux future is very very bright, but I still dont buy this IPO frenzy. RedHat may make some money, but they are billions away from catching their stock value after the first day of trading.RedHat was offered at an increased amount of 12-14$ per share. It finished the day with six million shares "valued" at 52 1/16. That means RedHat is "worth" 3.48 Billion (yep that is a B!) All that from a company that had sales of just $2.8 million in the quarter to 31 May (during which period it lost $2.1 million.)This is good news for Linux, people definitely believe, and great news for RedHat, but bad news for the stock market and the economy. This psuedo-worth cannot last forever.