Microsoft Shares the Pain

Exodus' big drop might signal that Exodus' hosting monopoly is over.
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It's not just

Microsoft

(MSFT) - Get Report

. That

Exodus

(EXDS)

whacking is key because Exodus is the ultimate arms merchant -- it wins no matter who wins in the dot-com world.

Or, maybe, it won.

This decline rocked the Street because everybody has tried to hide in the companies that sell the picks and the axes to the dot-com miners. Very few companies have had as big a monopoly as Exodus on this hosting business. Pretty much everybody has had to use it.

This decline says that perhaps the monopoly is over, that others have geared up and are ready to host. I don't know that to be the case personally, but the market is rarely wrong about these things.

This one shook everybody, believe me. Nobody saw this one coming.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.