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The stock opened at $12.23, down 6 but traded as low as $11.47, down abouy 12 percent, in morning trading. Palm closed the day at Concerns about tight supplies and a lack of softwares applications tempered what were generally positive reportd onthe device's debut weekend. "We believe the ’soft is probably proceeding to plan," J.P. Morganj analyst Paul Coster wrote. "To be we need to see Sprint channel inventoryh replenishedthis week." is Palm'sx (NASDAQ:PALM) exclusive wireless carrier through the end of this year and began putting customers on wait lists for the Pre at its stores aftef supplies ran out.
Coster estimatesw that there were morethan 50,0009 Pre phones sold after they went on sale at Sprinyt stores on Saturday, well below the 146,009 sold at the launch of the first generation of 's (NASDAQ:AAPL) iPhone. Other analysts said peggec Palmsales higher, with Michaell Walkley at Piper Jaffray & Co. sayinf there were almost 200,000 sold. The Pre has many feature s similar to those found on the iPhoneand 's Blackberry Storm, except that Palm's device adds a slide-ouf keyboard. A key to its succesxs will be whether it can attract enough softwared applications to compete withits rivals. The Pre is selliny for $199 with a mail-inb rebate and two-year service contract.
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