Sure, it would be nice to become a zillionaire overnight in a dot-com IPO, but how you you like to turn around and lose six billion dollars in one day? The software billionaire behind MicroStrategy, Inc. did just that recently, as share prices in his company dropped off a cliff.
The Internet stock doomsayers are starting to come out of the woodwork as stories like this one become more common. I have to say, you had to think the 'net stock craze wouldn't last forever; some of these companies built for appearances, not for turning out consistent products and making real profits over time. Still, $6 billion down the drain in a single day is just insane.
Speaking of tech stock slides due to shaky fundamentals, have a look at Rambus. Sony and Intel are still committed to them, but they're committed in that cold, "until the kids leave the house" manner. I'll betcha both of 'em have sweet, young DDR DRAM deals going on the side.
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