Bad News for Palm

Category: Mobile
Posted: March 19, 2010 03:42PM
Author: bp9801

It was just last year at CES 09 where Palm debuted webOS for future phones and shareholders bought up stock like no tomorrow. The company seemed to be on the upswing then, with the launch of the Pre and later on the Pixi, but now it seems that was not enough. Palm has been suffering setbacks in the sales department and recently posted a $22 million loss for the third quarter. With the posting of that loss, its stocks took a nose dive and dropped 25 percent in one day.

This is the first time its shares have been lower than $5 since the Pre launched, although it seems to be leveling off now. Still though, this is the most damage done to its stocks since October 2009. Analysts all over are advising people to sell their shares of Palm since they predict the company will not recover enough in time. Palm is looking to shop its phones around to more carriers to help recoup some of the loss, though at this point it seems a buyout would be the best solution but no serious takers have put forth an offer.

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