Palm Urges Elevation Partners To Sell Stock

Is Palm going through more financial difficulties that it already is? We know that Palm’s primary investor, Elevation Partners, gave Palm a boost by pumping in $100 million back in December, but now Palm is urging them to sell off half the stock that they got from the injection, which would help it make upwards of $49 million, which is a considerable sum, especially giving the current economic climate. With the Palm Pre rumored to be launched as early as this month, Palm will certainly be looking for some way to keep itself afloat, at least until the momentum from the Palm Pre kicks in.