Who will buy Palm?April 12, 2010. By Arnold Rapinan
Wow! Palm stock has been popping-up like fireworks these past few days. The stock has high rocketed more than 50% in just the last four trading sessions. Last week, there was a rumor that Lenovo and HTC are interested in buying Palm. Today, Bloomberg reported that the company is indeed for sale and that it hired Goldman Sachs and Qatalyst Partners as its advisers.
Technology Bloggers love this kind of story, hence, all kinds of speculations are out there in terms of who should buy Palm. Gizmodo reported that Google should buy Palm for its patents so that it can counter any patents claims Apple could make against its Android products (i.e. Apple vs HTC lawsuit about NexusOne). Engadget, on the other hand, listed several potential buyers including RIM and HP. With all these speculations, this is going to be a wild ride for Palm stock, and I think the stock accumulation is not yet over. So just for the heck of it, I bought a few shares today with the hope (and a wild guess) that the company will be sold at $9 or more a share (note that I didn't own Palm shares before nor I'm promoting/recommending the stock now). If I'm wrong, I maybe taking peanut-butter lunches to work for a month, laughing out loud. As for the question, "who will buy Palm?", it's anyone's guess at this point.