PALM priced 20 million shares at $16.25 - that's just huge. The stock's really in the no - resistance zone, and, with massive short interest. The bullish over-allotment means that PALM, if they so choose, could wipe out all of their LTD in one fell swoop....
A buyout for PALM? I still kind of doubt it - in spite of all the NOK for PALM rumors out there - but if I ran RIMM I'd buy PALM right now north of $25....Why? Because they could keep the Pre (and the next-gen versions of it) out of NOK's hands and, frankly, the Pre in RIMM's channel would be superior to many of RIMM's current offerings.....
long PALM
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