Palm Being Dropped from S&P 500
Standard & Poor's has announced that next Tuesday it will remove Palm Inc. from its S&P 500 index . It said the move was brought about by Palm's recent low stock price and the fact that its market capitalization, at $585 million, ranks in 496th place on the list.
After holding fairly steady at about $1.50 for several months, Palm's share price recently dropped to around a dollar after its Board of Directors announced a plan to do a reverse stock split.
The news it is being dropped from the S&P 500 has been a further blow for Palm's share price. It closed yesterday at 98 cents. It is currently trading at 83 cents.
The S&P 500 is designed to measure performance of the entire U.S. economy through changes in the market value of 500 stocks representing all major industries. The index hasn't fared well recently; It has dropped about 20% in just the past three months.
Palm will be replaced by Monsanto, which makes agricultural products.
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- I got one -Tuckermaclain
- RE: Don't we have this already? -Tuckermaclain
- RE: Palm brand will return in 2018, with devices built by TCL -richf
- RE: Palm brand will return in 2018, with devices built by TCL -dmitrygr
- Palm phone on HDblog -palmato
- Palm PVG100 -hgoldner
- RE: Like Deja Vu -PacManFoo
- Like Deja Vu -T_W