Take one of the hottest subsectors in the software field. Combine it with an IPO market that has been on fire. And what do you get? A stock that goes up more than 900% intraday.
, which provides Linux-based solutions, integrating systems, software and services, was up an astounding 247, or 723%, at 217. It reached an intraday high of 320, up 967%.
The market has been infatuated with anything that is attached to Linux, the free operating system seen as an alternative to
-- a network of Web sites that provides content, community and commerce for Linux and Open Source communities that went public yesterday -- was up another 15 points, or 24%, at 78 3/8 after climbing 250% yesterday.
, a software developer, was up 10 3/16, or 35%, at 38 1/2. The company recently launched its Linux system for desktop computers. It also has plans for Linux versions of its software products early next year.
Need another example?
was up 3 1/16, or 22%, at 16 13/16. The company said yesterday that it had released JBuilder 3 Foundation, a cross-platform development environment for creating Java 2 platform-based applications for Linux, the Solaris operating environment and Windows. The product is available for free download at Inprise's Web site,
, which started the whole Linux craze, was up 8 3/4, or 3.2%, at 280, having gained around 100 points over the past few sessions. TSC
previewed the slew of Linux firms that were set to go public back in November.
While anything Linux-based has been scorching, it's been another story in the rest of the technology sector. Just when it seemed as though investors would throw money into technology stocks willy-nilly, along came the profit-takers. Whether there is some concern ahead of tomorrow's
Producer Price Index
report, or traders have realized how fortunate they were to realize such tremendous gains this year, some money was being taken off the table.
Reversal of fortunes could be seen in many companies.
, which traded to an all-time high of 204 earlier in the session, was recently flat at 189 after reaching a high of 204 today.
, which reached an all-time high of 175 earlier in the session, was down 4 5/16, or 2.5%, at 161 1/4 recently. And
, which traded to an all-time high of 181 yesterday, was down 12 3/16, or 7.2%, at 157 1/2.