LWN: SCO and Public Perception
LWN has a good article on SCO, stock prices and the media:
Anybody who was paying attention during the dotcom bubble knows better than to attribute too much rationality to stock prices. That notwithstanding, a stock market is an efficient machine for integrating the opinions of a large number of unrelated people. SCO's stock price peaked briefly at $22.29 in October, when the BayStar deal was announced. At that time, the company's market capitalization was a little over $300 million. Given that SCO has no business left other than its Linux-related litigation, its stock can be seen as a sort of call option on SCO's lawsuits. Even at its peak, SCO's stock price represented a perceived chance of collection of less than 10%. If the company were truly set to collect billions, it would not be valued in the millions.
posted Thu 11 Mar 2004 in /issues/sco-vs-linux | link
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