Palm (PALM) Flying Higher Into the Close, Cramer Said There's Room For Everyone
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Shares of Palm, Inc. (Nasdaq: PALM) are ramping higher late in the session. The stock could be benefiting from comments from Jim Cramer on CNBC's Stop Trading. Cramer said the tsunami of mobile Internet is so powerful that there's room for Palm (Nasdaq: PALM), Research In Motion (Nasdaq: RIMM) and Apple (Nasdaq: AAPL).
Specifically on Palm, Cramer said the earnings were powerful and if its wasn't for the secondary stock offering the stock would be at $16-$17
Shares of PALM are up 14% to $16 and nearing a 52-week high of $16.80.
Cramer was also very bullish on American Towers (NYSE: AMT) saying the country has data overload, and we need more mobile towers.
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