Tuesday, February 08, 2005
Rolling the dice on PSRC
Trying to catch a falling knife is never easy. But I've decided to try it with Palmsource. Although the stock has been hitting fresh 52 week lows on an almost daily basis for several months now, I think we've reached bottom. The company is now valued at about $150 million, and in my view, is a good acquisition target. Even if it doesn't get acquired, it is profitable and has plenty of cash. And most importantly, it is in the hot smartphone market, and continues to have a nice piece of the OS market for smartphones. Yeah, I know, it's got lots of competition, and has struggled to find licensees beyond PalmOne. Also, it doesn't have the ultra low P/B and P/S ratio that I usually look for when buying stocks. But my gut tells me to buy, and that's what I did: 1000 shares at $10.15 a piece.
# posted by Stockcoach @ 8:13 PM 
Comments:
<< Home
Bad day for PSRC.. down over 3% and below the $10 level that it seemed to find some support at.
Good luck with this one. I'll wait for it to get back on the right side of the moving averages and settle for a smaller profit.
Post a Comment
Good luck with this one. I'll wait for it to get back on the right side of the moving averages and settle for a smaller profit.
# posted by 
: 7:55 PM, February 09, 2005
: 7:55 PM, February 09, 2005 << Home
