Palm shares drop below IPO price

CNET has a small article on the news that Palm hit a record low in trading on Tuesday. For a moment Palm actually fell below their IPO price of $38 a share, but recovered slightly to close at $38.25. "The fall comes after Palm said last week that higher marketing and supply costs and lower prices for its devices will lead to operating losses for several quarters. It also comes as many technology-related stocks have been declining." Now may be a good time to buy...

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Palm shares drop below IPO prices

G. LeMesurier @ 4/6/2000 12:55:30 PM #
"Now may NOT be a good time to buy!" Didn't anybody get the idea when the retail buyers ran up the price in 1 day to over $150!!! Who made money when the frenzy calmed down? The industrial investors that's who! They were sitting on the IPO shares around $38 and selling to the retailers with their loose cash and home PCs...

The point I want everyone with the loose cash and home PCs to think long and hard about is that 95% of the PALM stock is still sitting in 3COM's hands. When they "divest" themselves of PALM completely, the 3COM shareholders will unload a large number of those shares for the profit-taking. What do you s'pose will happen to the price then? Wait for the flood to pass before you jump says I.



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