Pessimism among investors was rooted in a disappointing batch of economic data and moderate strength in the dollar. Palm said it expects revenue to fall far below current forecasts due to worse-than-expected sales of its new smartphones. Shares plunged 19% on the forecast. However, the market managed to cut losses as buyers stepped in. The QQQQ implied volatility remained on the low level.
Friday, February 26, 2010
Erased losses
Pessimism among investors was rooted in a disappointing batch of economic data and moderate strength in the dollar. Palm said it expects revenue to fall far below current forecasts due to worse-than-expected sales of its new smartphones. Shares plunged 19% on the forecast. However, the market managed to cut losses as buyers stepped in. The QQQQ implied volatility remained on the low level.
