Palm Continues to Explode on Buyout Rumors
Last week there were rumors that Palm (PALM) engaged Goldman Sachs (GS) and Qatalyst Partners to find a buyer for the troubled PDA maker. The stock has bolted another 19% today after popping 35% last week.
Considering cell phone maker HTC and PC maker Lenovo haven’t publicly mentioned any interest in buying the maker of the Palm Pre, the move seems a bit overdone. Unless, of course, you consider all the shorts who are getting their faces ripped off: