Another Downgrade Hits Palm (PALM), However Traders 'Buying the Weakness' Today

This is an understatement: shares of Palm (Nasdaq: PALM) have had some rough trading sessions over the last two weeks.

Since Tuesday, February 16, Palm's stock has yet to close in positive territory, losing more than 38% over the course. The stock was first hit by a round of analyst downgrades, then a nasty Q4 and FY10 sales warning, and finally, another round of downgrades following the guidance. Today we have yet another analyst downgrade, however, traders seem to be pounding the table today and saying "Enough is enough": the stock will open today's session around $6.01, up 1.4% from yesterday's closing price.

Today's downgrade comes from an analyst at Pacific Crest Securities who lowered his investment rating on Palm shares from Outperform to Sector Perform.

Visit our Analyst Ratings page to track all the upgrades/downgrades on shares of Palm.

Palm, Inc. provides mobile products for individual users and business customers worldwide.

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