What a ride for Palm (PALM) investors! Since last December, shares are up more than 1100% to $14.60.
That’s higher than the price ($13.92) it closed on Jan. 9, 2007, the day Apple (AAPL) announced the iPhone — which has since caused a lot of trouble for Palm. (And that’s after a $9 per share dividend in 2007 when private equity firm Elevation Partners closed their recapitalization.)
The next steps, now that Palm has installed ex-Apple iPod genius Jon Rubinstein as CEO: Is the new Pre — revered by reviewers — going to be a financial success? Or will it bomb? Can Palm get other carriers around the world to stock and promote the Pre and other webOS phones? Is someone like Dell (DELL) or Nokia (NOK) or Microsoft (MSFT) going to buy Palm?
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