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.
By Matt O'Hern at 04:00 PM | Comments (0)