Shares of Palm stock up 24% in early trading | webOS Nation
 
 

Shares of Palm stock up 24% in early trading

by Derek Kessler Thu, 29 Apr 2010 10:10 am EDT

HP

HP’s offer for Palm was for $5.70 a share, a hefty premium over yesterday’s closing price of $4.63. Understandably, when the news of HP’s purchase broke, both the volume and price of Palm’s stock skyrocketed, with Palm stock opening the day up nearly 24% from yesterday afternoon. Right now shares of Palm are trading around $5.74 (yes, higher than HP's offer), with investors hedging that somebody else is going to come in and place a higher bid for Palm than HP’s $1.2 billion package. We wouldn’t count on it, and we’re not sure we could take the excitement either. Chart after the break.

PALM

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