Palm announced Friday that it will be selling Smartphone through Verizon Wireless, one of the world's leading cellular communication providers. This deal could mark the turnaround for the struggling handset maker, which has seen diminishing sales the past few years. Although this is a great opportunity for Palm to gain some market momentum, there are still numerous hurdles they must clear. The largest hurdle, as you might imagine, is Apple, which has dominated the Smartphone market in past years.
Palm could be a good fit for your portfolio if you are not afraid to take some additional risk. With a market price of $12.43 at today's close, no dividend, and light volume, Palm is definitely a speculative play.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).