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Rick Moen on LinuxOne's IPO

Posted by ryuzaki0 on from the develing-deeper-into-the-story dept.

nickm writes "Many eyebrows were raised when Linux One announced its upcoming IPO. None were raised quite so high, however, as commentator Rick Moen's. The story is up on LinuxWorld Online. Truly a bizarre tale - check it out. "

3 of 119 comments (clear)

  1. Re:LINX ticker symbol by NovaX · · Score: 3

    Nope.. when I was checking this out back when Rick posted his findings on LinuxOne (check Rick's archives of SVLUG.. www.linuxmafia.com.. I forget where. Or use, http://www.egroups.com/list/svlug/), I looked that up. VA is asking for LNUX, and L1 wanings LINX. Big difference, huh? The basic discussion from the ticker ended that it was enevitable, that at least VA was a trusted friend, and L1 is almost certaintly using the ticker for an IPO scam. Have fun in the archives.. there's lots of good discussions stored there.

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    "Open Source?" - Press any key to continue
  2. Quite frankly.... by The+Wing+Lover · · Score: 3
    Quite frankly, any investor who simply buys into this IPO, just because it contains the name "Linux", deserves what they'll get.

    This venture will inevitably fail. They have no product yet, they already have too many competitors, both in the domestic and international markets, and they don't seem to have any business sense, let alone much technical expertise.

    However, it is also inevitable that someone will say "Ooh, it says Linux, so I should buy some of the IPO! Yeah baby yeah, I'm gonna be rich!" The stock price, however, along with the trading volumes, will eventually dwindle down so as to be insignificant. When this happens, people hwo invest without doing the slightest bit of research will be well-rewarded for their laziness and greed.

    - Drew

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    - In Capitalist America, law violates YOU!

  3. Failure May Be Useful by Christopher+B.+Brown · · Score: 4
    The Linux community has not yet had a "Pearl Harbour" or any equivalent thereof.

    While the diminishing of confidence that would result from a "serious bad occurrance" would not be particularly good, this would have the merit of encouraging people to look past your "false pretences."

    A LinuxOne gone bad situation, where, in looking at the documentation, their business case is half-baked, is not going to seriously undermine the ability of Corel to keep trading on NASDAQ and the TSE. After all, they do have a big gold building on Carling Avenue, unlike LinuxOne.

    The thing that is really peculiar about the LinuxOne IPO, and it is the thing that is likely to hurt them most, is the consideration that they haven't been able to get an underwriter of any sort, and particularly not a credible one. They're selling stock directly, and the comparison could be drawn that you can go out back to the truck in the parking lot and buy some stock. This has more parallels to the guy in a van driving down Bronson Avenue that says, We've got some extra car speakers. You want some? than it does to a sale through Goldman Sachs & Co.

    So no, I'm not terribly worried about this; anyone with a little skepticism about finances will take this IPO with at least some of the "grains of salt" that it deserves...

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    If you're not part of the solution, you're part of the precipitate.