PALM Approaching Dollar Stock Status
Palm's stock price dropped another 21% today to close at 1.76. It nearly goes without saying that the todays price represents a new all time low. On a day where the Dow closed below 8,000 and the Nasdaq under 1,400, Palm ended the trading day with a $192 million market cap.
Like most other equities in the past couple of months, the stock has seen sharp declines since the current economic crisis emerged. Just over two weeks ago the stock received a double dose of downgrades from financial analysts on account of slowing sales and uncertainty surrounding Palm's long planned turnaround.