Palm Stock Hits 52-week High

Posted By: Ryan Kairer Tuesday, June 16, 2009 1:11:59 PM

Sales Chart Shares of PALM hit a 52 week high today. The stock has recently been pumped up on strong Pre sales estimates and a positive reaction to the new CEO announcement. Shares closed up today at 14.38.

Pacific Crest Securities analyst James Faucette said sales to consumers so far appears to be stronger than anticipated. Mr. Faucette reckons that between 90,000 and 100,000 Pre's were sold within the first week. He further estimated based on demand and waiting lists that Palm could beat 500,000 units sold by August.

In his research note to clients Mr. Faucette further remarks "We believe Palm's WebOS is the most attractive asset in the wireless industry, but that it may be worth substantially more to a potential acquirer than that which Palm can realize through selling its own products over the next two years."

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ROI

twrock @ 6/16/2009 5:31:13 PM #

Yep, shoulda picked up some Palm stock back when I was joking about "nothing to lose" by buying a few shares. Looks like there was plenty to gain. :-)

Hey Palm! Where's my PDA with Wifi and phone capabilities?

Lost oppertunities

alandrew @ 6/16/2009 11:33:54 PM #

i was also thinkin about it....
Crazy, how we all love Palm believe in the product...and then miss an oppertunity like that !

Sleeping with our shoes on !
Treo600>>Treo680>>Centro>>Pre

RE: Lost oppertunities

LiveFaith @ 6/17/2009 7:37:30 AM #

Prediction is difficult, especially concerning the future. It's even more difficult when you're holding the 43rd iteration of Handspring's Treo 600 in your hands still, and the best device they make was released in 2003.
Still, I'm sure the "analysts" will be updating the stock to hold or buy any day now. That's the time to jump in. :-D
Pat Horne

RE: Lost oppertunities

anika200 @ 6/17/2009 10:58:10 AM #

yep, If I had not burned my ass in 1999? with BeOS, ATML, and Sunmicro I may have been able to talk the wifey into it. I figured it was gona make someone some money. There is still time for people that have some cash. I figure a run to $20 bucks or so.

RE: Lost oppertunities

CFreymarc @ 6/17/2009 11:37:00 AM #

A surprise stock price surge is a classic shodda, wodda, coulda. I find is amazing how no one posted a stock tip on this site. This was one rather obvious.

RE: Lost oppertunities

LiveFaith @ 6/17/2009 9:40:39 PM #

Anyone who pumped it would have gotten flamed I think. There is a lot of doubt even among the Palm faithful (more like deperate at this point) due to several years of dashed hopes due to corporate mismanagement. I still didn't believe it was true until I actually used a Pre at Sprint the other day. Maybe that was just a dream tho?
Pat Horne

RE: Lost oppertunities

twrock @ 6/17/2009 10:54:46 PM #

I did actually look at picking up some Palm stock back when it looked like it would drop into the penny realm. But since I'd never purchased stock before, I have no real intention of making stock part of my life, and the minimum it would have taken to just get started was more than I wanted to "play around" with, I didn't seriously pursue it. But I do agree with CFreymarc, this one did seem to be obvious. Very little risk.

I do regret not throwing the tip to my brother-in-law who does work in the business.

Hey Palm! Where's my PDA with Wifi and phone capabilities?

RE: Lost oppertunities

SeldomVisitor @ 6/18/2009 2:36:48 AM #

There was "very little risk" at the one dollar level; there is MASSIVE risk at the $14 level.

As you noted, NEVER play stocks (or Las Vegas!) with money you are not willing to throw away ENTIRELY...even when the circumstances scream out "This has very little risk!".