Palm Stock Soars on Positive Pre Buzz

After a long drown out decline and near dips below the dollar line, Palm's stock has make a commanding recovery since the new announcements. After the conclusion of Palm's presentation, late-day trading activity responded strongly in Palm's favor, sending the stock up 35%.

The market seems to be responding positively to the new Pre smartphone and WebOS platform. In trading today price is continuing its climb and is currently trading around $6. This is a pleasant turn of events from Palm's dismal financial performance of late, as the stock was trading in the low $3 neighborhood at the beginning of the week.

Palm StockWhile Wall Street has responded positively to the initial news out of Palm's camp, some analysts are still proceeding with extreme caution. Needham & Co's Charlie Wolf, stated in a report that Palm "delivered on its promises" with the new device, but added that it still faces heavy competition in the smart-phone field. "Palm's challenge will be to steal at least some of the thunder from the heavyweight contenders in the smartphone market...In our opinion, the Pre clearly outshines Windows Mobile and Google's Android platform in their current iterations. But whether it can gain breathing room in an increasingly crowded market remains an open question, especially in view of the prospect that stunning new operating systems and smartphones will also debut during the year."

As of this writing on Friday 10:30am PST, Palm stock continues to perform strongly, opening at $5.24 this morning and $6.04 as of this writing, on much, much higher volume of 46,695,184.

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Good news

stellaboy @ 1/9/2009 11:17:35 AM # Q
I think Palm worked out all the bad news before 2009. Just a case of good news all round now I hope.

pilot 5000 >Palm V > m505 >Tungsten T >A bad win mo 5 pda >Clie Peg ux50 > Tungsten t3 >Treo 680 >Centro
RE: Good news
dandrade @ 1/9/2009 11:22:46 AM # Q
I agree with you. I think Palm was smart to get this thing as far as it is and then announce it at CES. Remember folks, this is not the final version. Over on Engadget they are reporting that Palm is still tweaking the final design of both the hardware and software, so we can probably see good things coming. I feel pretty positive, especially since the Pre shows Palm listening to their public. I'm hoping that they will listen to some of the comments and questions we have now before doing a final release of the Pre or at least address some for the next device. Overall, I think Palm is off to a great start for 2009.

RE: Good news
NuShrike @ 1/9/2009 12:22:03 PM # Q
And you unless you are fairly rich, wait until the 2nd rev of this device, maybe even the 3rd (if Palm makes it that far), for them to work out all the kinks in the hardware and software.

Palm III -> Sony NR610C -> Sony NR70 -> Sony NX80 -> Palm T|X -> HTC Kaiser -> HTC Fuze
RE: Good news
LiveFaith @ 1/9/2009 1:23:56 PM # Q
... why not just hang on to the Pilot 1000 and BellSouth bag phone until all the kinks are worked out of whatever is released? That would be even cheaper.

Pat Horne
RE: Good news
stellaboy @ 1/10/2009 3:22:15 AM # Q
good point lf
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joad @ 1/10/2009 1:02:52 AM # Q
Maybe he's decided to take a break from beta testing Palm's new devices. Although it's a tradition, it gets to be a drag to find how far from the hype the actual condition of their products have been - for years. For the $$$hundreds we pay, basic stuff should not be so obviously overlooked as it has been.

Maybe this time it's finally different. But, perhaps not........

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twrock @ 1/10/2009 4:47:44 PM # Q
An article on Palm stock and no comments from SV? Couldn't find a way to put some negative spin on this one?

"twrock is infamous around these parts"
(from my profile over at Brighthand due to my negative 62 rep points rating)
RE: What?!!
freakout @ 1/10/2009 4:58:52 PM # Q

Now now, tw. You shouldn't kick 'em when they're down. ;)

RE: What?!!
SeldomVisitor @ 1/10/2009 5:16:42 PM # Q
My apologies - what would you have me say?

Did you notice that Palm zoomed AND splatted 30% in stock price in a single day a week or so ago? Then zoomed 30% the next day?

With NO news?

Would you have me say that the stock price was higher in September than it is now?

How about that the price, on hundreds of thousands of shares traded, almost-monotonically dropped 25 cents afterhours on Friday? (yes, 25 cents is a lot when you're talking $6 stocks)

Perhaps we should discuss the stock price relative to the Me-Too Media's unthinking gushes that have been published the last couple days. What happens when the Me-Too Media wakes up from their rapture and notices that nothing really WAS demonstrated? Sure, Palm exceeded their OWN realtively-lousy prior phones but...

BTW - listen to Mossberg - he says it right this time. Be Careful Out There!

Hey! How come the CFO chose not to be CFO on January 8th? That CERTAINLY is an interesting question with a VERY interesting answer, I'm sure! Here's my impression of the CFO:


I wonder if the man behind those impressions had a reason for not being CFO on January 8th...



BTW, thanks for thinking of me! Strangely, I =literally= thought of no other poster when I made posts about the Pre et al, and continue that non-thought at this time!

Guess it matters if posters have impact/logic behind their posts or not, huh?

RE: What?!!
twrock @ 1/11/2009 1:54:38 AM # Q
LOL. It's just that you're so darn predictable.
(BTW, what Palm device are you using at the moment?)

"twrock is infamous around these parts"
(from my profile over at Brighthand due to my negative 62 rep points rating)
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Bizarre! Cobalt Lives?

Gekko @ 1/11/2009 10:18:53 AM # Q

just saw something bizarre. in Palm Desktop version 4.2 (came on CD with my Centro bought in June 2008), go to this in the menu -


and you will see this -

"NOTE: This option is not available to users with handhelds running Palm OS Cobalt."


RE: Bizarre! Cobalt Lives?
mikecane @ 1/11/2009 11:38:28 AM # Q
Now I wonder just what Cobalt would have been like. Ceratinly it'd be more familiar than PwOS!

Hey, ACCESS!! You own Cobalt. How about setting it up for sale in a way that lets me reflash my LifeDrive with it. Yes, I'll pay for it - IF you put G1 in it too, baby!

RE: Bizarre! Cobalt Lives?
SeldomVisitor @ 1/11/2009 11:51:01 AM # Q
> ...Now I wonder just what Cobalt would have been like...

No one has a clue what OS is underlying the Pre.

Maybe it's Cobalt.

Or PalmOS.

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Take this one with a pound of salt until verified

SeldomVisitor @ 1/11/2009 4:29:28 PM # Q
"GS" ==> "Goldman Sachs"


RE: Take this one with a pound of salt until verified
mikecane @ 1/11/2009 4:55:56 PM # Q
What?! They're saying the stock could SINK to penny-stock status? Forty cents?!!? Did I read that right?!

RE: Take this one with a pound of salt until verified
SeldomVisitor @ 1/11/2009 5:02:08 PM # Q
Yes, you read it right. In the Me-Too Media gushing many have forgotten just how badly Palm is doing OTHERWISE and how long revenue takes to get realized after a beta phone gets finalized and goes through carrier testing and gets out on the street.

And, even though GAJILLIONS of fanboys and fanboy-wannabees are noting with disgust that SPRINT is the carrier-of-choice, many are ignoring that the fact than none of them want to switch to Sprint!

Shall we mention the economy?

RE: Take this one with a pound of salt until verified
mikecane @ 1/11/2009 5:04:22 PM # Q
>>>Shall we mention the economy?

To me? Mention the economy to ME?

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Short Interest for PALM stock at all time high

SeldomVisitor @ 1/27/2009 1:27:17 PM # Q
Apparently there are a whole lot of deep-pocket traders who do not believe The Pre Hype and Gushes.

Short Interest is at an all time high and, I believe, actually increased at an all-time rate as well in the 15 day period that covered post-100-million-extra bucks AS WELL AS the CES presentation of the Pre.

Be careful when watching stock prices - there's a WHOLE LOT going on elsewhere that may be just as significant, especially with a played stock like PALM.

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