Few companies who went public during the late 1990s dot-com era are still around; Redhat (RHT) is one of them. Their open source Linux software was supposed to take down the mighty Microsoft.
Well, that clearly didn’t happen, but the company did transform itself into a thriving company. Redhat still offers Linux, but cloud computing has turned out to be their savior.
The technicals on the chart are robust, even after the big plunge from the last earnings announcements. Momentum is starting to build, volume trends are getting better, and option volume has also picked up, with some very strong call buying out to December and January strikes.
