Palm might be on a slippery slope to nowhere with its future might look bleak, but one New York based investor, Harbinger Capital Partners, is betting on a good outcome. They have invested an undisclosed amount of money buying up 16 million shares or roughly 9.48 percent of the company.
Harbinger which is headed by investor Phil Falcone, also owns stakes in The New York Times and some satellite companies which plan to develop a wholesale broadband network in the United States. Given that these guys bet on crazy assets for a living, I am sure they have a good reason for making this trade. I’m in minority for feeling that whoever buys Palm is going to end-up like Palm sooner or later.
