“Palm is essentially an accelerating death spiral”… analysts target shares to hit $0.00

Interesting article on the future of Palm from CNN Money. “Shares of Palm plunged 19% to $4.59 a share early Friday, a new 52-week low. Investors are becoming increasingly pessimistic about the company’s future and several analysts downgraded their positions on the stock to “sell.” Two analysts even lowered their price targets to $0… Morgan Joseph & Co. analyst Ilya Grozovsky, one of the two analysts to cut its price target on Palm shares to $0, said “Palm is essentially an accelerating death spiral.”

The other analyst is Peter Misek from Canaccord Adams who said that Palm only has enough money to last them 12 more months. Misek stated “Palm’s troubles will only accelerate as carriers and suppliers increasingly question the company’s solvency and withdraw their support.”

More here at CNN Money
Via: Crunch Gear