Palm Scratching Its Head (PALM)

Posted in pre-market 
December 18th, 2009

Palm, Inc. (NASDAQ: PALM) is getting clipped this morning, although frankly the news could have been worse as shipments in the last quarter ran far higher than sell-thru rates.  Last night was apparently its 10th consecutive loss and Sprint Nextel is not offering enough bang for the buck.  At 8:13 AM EST we have seen only 7,000 shares traded, but the stock is down 7.7% at $10.82.  Shares closed out last night at $10.70 in the after-hours session, and the after-hours trading volume was 2.32 million according to NASDAQ data.  Keep in mid one bit… There is a monster short interest in this stock, so any stability in the stock could always be followed by a short squeeze even though the news was not solid at all from the company.


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