Palm Recovers, Some (PALM)

Posted in pre-market 
December 21st, 2009

Palm Inc. (NASDAQ: PALM) is trading higher this morning but already off the pre-market highs.  The troubled smartphone maker was upgraded to Hold from Sell at Morgan Joseph this morning after last week’s sell-off based on valuation.  After hitting under $10 briefly on Friday, the firm believes that it is discounting guidance and targets.  It also noted that the risk-reward no longer favors the short sellers.  At 8:55 AM EST we have shares trading up over 1% at $10.28 on 151,000 shares. There is a monster short interest here in Palm.

JON OGG

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