Red Hat Plunges on Oracle News

Red Hat (RHAT) on October 26, 2006 sank 24 percent after Oracle (ORCL) announced that they would offer competing services for the Linux operating system.

RHAT had been on a sharp downside for weeks before the announcement. Did the "smart" investors already know about Oracle's move? Do not buy RHAT.

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Posted October 27, 2006.