PalmSource on its way of becoming a penny stock?

Alexander Turcic · 07-22-2005, 03:51 PM

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.

Alexander Turcic · 07-26-2005, 03:23 PM

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*

07-22-2005, 03:51 PM	#1
Alexander Turcic Fully Converged Posts: 18,175 Karma: 14021202 Join Date: Oct 2002 Location: Switzerland Device: Too many to count here.	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. Attached Thumbnails

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07-26-2005, 03:23 PM	#2
Alexander Turcic Fully Converged Posts: 18,175 Karma: 14021202 Join Date: Oct 2002 Location: Switzerland Device: Too many to count here.	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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