Comments on: Palm's Stock Drops Like a Rock
The drop has Palm's CEO befuddled. "It's a strange situation," Carl Yankowski said Thursday. "Wall Street apparently expected a [negative] surprise. You're selling all you can make.... [We're] in a hot category and holiday season sales have been strong. " He remains optimistic about the future, saying, "We'll just power through."
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t'is the season to get greedy..fa la la la la a fa...!
it's christmas time and end of year is comming
around, you've made a tidy sum, this year but
your boss is on you to perform perform...'perform' for the annual report... hmmm, I've have a lot in Palm maybe I should sell and show a little more profit this quarter.
or as Eddy Murphy put it, 'Your kid wants the doll, with the Kung fu grip, and your wife won't ____ you if
you don't bring home some major cash..' or somthing like that....
Ian.
It's still extremelly overpriced.
Drop like a Rock
RE: Good Company - Overvalued Stock.
How do you put a value on a stock? Traditionally earnings, dividends, as well as the potential for growth.
If palm sold a Vx to the entire population of the world they probably wouldn't make enough to achieve a quarter with a 15x P/E at their old high - 15 P/E the historical average.
It's a bubble which is imploding. NTT went to similar valuations in 1989 on the NIKKEI. It is still around but not trading out for quite that much.
RCA was high tech in the late '20s. It's still around but had a palm-like P/E. After the '29 crash I think it was the 50s or 60s before it recovered to the pre-crash value. And it was a much bigger company at that time, so it was actually worth the stock price.
Many other companies had no earnings and even larger market caps. But in a mania everything gets bid up. Facade companies to the stratosphere, but even real companies are bid up to silly levels. And during a downturn they often go below book value. But that is the market.
Don't mistake the stock price with the solidity of a company.
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