07-22-2005, 02:51 PM
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#1 |
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PalmSource on its way of becoming a penny stock?
 True, we are still not even close to the penny, but PalmSource stock (symbol: PSRC) made a dangerous dive last Wednesday undercutting for the first time the $8 mark (see screenshot).A few weeks ago, former PalmSource CEO David Nagel announced that he was planning to throw 116,388 PSRC shares on the market. Perhaps this is not a big deal as the sale would only amount to a total value of less than USD 1m at current stock price. On the other hand, it might not be a comforting signal to investors if the former CEO of a company is so hasty in selling his stocks. Surely he cannot be that much in need of cash considering that he has made roughly USD 10m in the past 3-1/2 years through sign-on bonuses, salaries, other bonuses, severances and stock sale proceeds. |
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07-26-2005, 02:23 PM
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#2 |
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Small update: Yesterday PalmSource stock slipped further to $7.54, a new all-time low.
Perhaps related to this new finding and Nagel's leave? *grin* |
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