“When Red Hat had its IPO in 1999, many saw it as the real coming of age of Linux. While there is little doubt that IPO was a big event for Red Hat and Linux, perhaps an even more important one from a milestone point of view will officially occur this Friday. As of Friday, July 24, Red Hat will join the S&P 500 index.”
I was just thinking today that I should see how Red Hat is doing. Having left the Desktop Market it doesn’t get all the fame that it use to get. But I guess they are being profitable or the others on the S&P 500 are doing so poor that they got off the list. Probably a little from both. Good job Red Hat
I just read that the company that was removed to make room for Red Hat was CIT, a now-insolvent lender to small businesses that has lost most of its value. I was just checking Red Hat’s stock price and it’s stayed pretty stable over the past five years.
Thats impressive in this environment. When stock prices have fallen upwards of 30% a stable stock price is a shareholder’s dream.