Palm (Where To Now?)

S

sobepehopeful

So I listened to the conference call which was worthless, they didn't want to talk about anything that would address any main concerns, the stock briefly popped when the units number came out, but they only said 800,000+ units total with the majority being the Pre, well...what constitutes as majority? 52%, 54%, 70%, if that's the case we are looking about 420k or so Pre's sold which the street was looking for 500k, is this a success turnaround story? Where do you guys see this stock going starting at the open tomorrow?
 
here's why i think their stock is overvalued.

1. balance sheet is negative
2. it didn't beat the iphone. developers aren't going to all of a sudden start developing for palm pre.
3. they knocked down the price of palm to nearly 50-100 with rebates in a matter of a few months.
4. i don't know ANYONE that owns a palm pre.
 
It seemed that buyers really cared in after hours around the $14 level. It's range after hours was $13.75-15.89. Above $15 before people realized they were talking down next Q and doing a 10% stock offering for 'general corporate purposes' (they're out of money). It just still appears to me that they are window dressing the company with 1 product - to sell it. If they were bid $20 in takeover, "Yours!" I really think that's what they want. Pre is not going to eat into IPhone or Blackberry materially. I wouldn't buy one because I know that the manufacturer (PALM) may not be around in a year to fulfill warranty.
 
Supper pumed stock by GS to 16.36 today. Closed almost 16 today. Very very fake. They are doing it to make a market for 16 million new shares. PRE is sold by PALM agents for $1 with a 2 year contract with free shipping and free activation on EBay !!. PALM is losing big time on PRE.
 
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