Thursday, January 15, 2009

Palm Inc. Continues to Attract Investors

Bono and Elevation Partners can keep singing, because their major investment in Palm Inc. looks like a smart move. Palm Inc. (NASDAQ:PALM) continued its upward climb today. I'll admit, Palm Inc's success defied my skepticism after Citigroup (which upgraded its Palm Inc. rating on Monday) plunged Tuesday and Wednesday.

I figured that since one of the market's most popular raters was facing its own financial crisis, investors might wonder "What gauge can we rely on?", then  panic and sell. I was wrong. Palm Inc's rally , along with Amazon, lifted tech stocks back into the gainers column after a skiddish start in the morning.

Evidently, the Palm Pre has made a good first impression.

Posted By Matt O'Hern at 04:00 PM
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