Palm’s stock price had fallen more than 26 percent by 2:30 ET Friday, raising questions on Wall Street about the future of the company. Some investors speculate that Palm will not be able to survive unless it is acquired.
Recent rumors that AT&T will soon sell Palm smartphones aren’t helping the company’s fortunes. (And on that note, many sites are reporting a delay in that process.) Palm said in an earnings call Thursday that it sold fewer phones than was forecast. The good news was its $350 million in revenue last quarter, but that wasn’t enough to make investors feel optimistic.
Palm’s stock price was once considered too high for an acquisition, but now that it’s down around four bucks, the chances of a purchase might be more likely. Palm probably faces an even more difficult road ahead as a standalone because, outside of its die-hard fans, the company’s struggling financials might very well keep consumers from laying down the bucks for a Pre or a Pixi. Of course, they’re already not doing that, as a rule.
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