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07:53PM (15 mins delay)
Jul 02, 2009 - 5:51 AM EDT
Every once in a while, a stock breaks the barriers and totally changes its category. It moves from small cap to mid-cap to large cap and so on. In that process it increases its market cap by many folds perhaps even 20 times. Research in Motion (RIMM) did that from June 06 to Oct 07 and First Solar (FSLR) did the same from Jan 07 to Jan 08. For such a sustained stock run to happen, it has to be based on a fundamental change in company itself or in the company’s perception.
Recently, Palm (PALM) is showing a similar trend. It has grown almost 10 fold over the last 6 months with its current market cap at ~2.2 billion. The question remains “Is this for real?” and “can it continue?” Can Palm break out from its current levels again and reach a market cap of $10 billion? Palm has come out with its new smartphone (Palm Pre) which is considered a very competitive offering against “iPhone from Apple (AAPL)” and “Blackberry from RIMM”. So far, reviews on Pre have been great. Reviewers are bullish on Palm’s new WebOS, true multitasking capabilities and of course cordless electromagnetic charging capability for Pre. Here is a link to a CNET smartphone comparison.
Source: Seeking Alpha (Jul 02, 2009 - 5:51 AM EDT)
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