I’ve always been amazed at how stocks can be influenced by mere rumors, but Palm’s stock skyrocketed today by 8% amidst speculation that the struggling company may be bought out by Nokia.
Now, this wouldn’t be the first time we’ve heard this rumor, but for some reason it’s resurfacing; word of a Palm takeover had been talked about as early as September 2008.
It is interesting to note, however, that the two companies don’t have a whole lot in common. For instance, Nokia is heavily invested in Symbian and Maemo while Palm already has established WebOS as its current OS of choice. Would Nokia be willing to takeover WebOS and make it its own?
We do know, though, that Nokia is having its fair share of problems getting any sort of stronghold in the smartphone market with heavy competition such as the iPhone and the large number of Android devices now emerging. If there is any merit to the rumor, it would likely mean Nokia is hoping to add strength to its smartphone market share.
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