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Palm’s stock drops 23% for the month

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Palm just can’t seem to win these days, the Pre didn’t do quite as well as they had hoped and now their stocks are plunging. For the month the stocks are down 23% closing at $13.38, that’s down 6.3% for the day alone. Last month the stock ended at $17.46 so investors are probably pretty unhappy.

It is believed that Palm is on quite a steady decline and that the new Palm Pixi which is due out in the next month will only give them a small bump before hitting a steady decline again. It seems webOS may not have gotten the head start they needed to contend with other operating systems such as AAPL, RIMM and Android.

Palm has got to have a very strong release to help them catch up to competitors or it might be over for them. The new Motorola Droid appears to be a very promising handset and will reach a very large network of customers before webOS has a chance to. Palm needs to push new devices to other carriers sooner because by the time any of their products are available to a larger market it has already become yesterday’s news.

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