Palm (PALM): The End Is Nigh
April 9, 2008 by Douglas A. McIntyreWall St. is beginning to think Palm (NASDAQ: PALM) will give up the ghost soon. And, no wonder. The company has not made a product anyone wants in years.
According to Barron’s an analyst from Nomura writes “We think that it will continue to lose market share and market relevance, leading to an eventual closing of its doors.”
Elevation Partners, lead by Roger McNamee, gave the company an infusion of capital just as things began to fall apart. It is likely that the venture firm would like a "do over" on that.
Palm trades at $5.72 now. It was over $9 in October. At the present rate of decline, it should be at zero before Labor Day.
Douglas A. McIntyre
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