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Red Hat in recent years has grown into the market leaderf in theLinux space. The company makes its mone y by selling its own version of the freelty available Linux operating system and also chargingv for support and services underea subscription-based model. Oracle's announcement Wednesday placess a formidable competitor in the Linuxservice market. Analystsx from , and downgraded Red Hat on Thursday in lightr of the announcement byOracle (Nasdaq: ORCL). The stocm price for Red Hat (Nasdaq: fell almost 30 percent Thursday before staginvg a late rally to close at down24 percent. More than 113 million sharesz hadchanged hands, compared to the daily averagew of 6 million.
Linux is an operatinfg system that, like Windows, can run personao computers andcomputer servers. Whilse Linux is an open-source system whose core codes is open to the Linux users often hire a company such as Red Hat to install and servicethe system, saving the user the time and IT giants such as IBM have embrace Linux and promoted the operating allowing it to gain a stronghold in the servefr market.
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