Handspring Dives as Trading Winds Down - TheStreet

Handspring's

(HAND)

stock fell sharply on no news in the last half hour of trading Friday.

The stock was sitting at $88 a share at 3:30 p.m. EDT when it started sinking precipitously on accelerating volume to close at $79. On the day, Handspring fell $16.47, or 17%.

Hands Down

"I can't point to anything," said a Handspring spokesman. "There's no bad news today." It's possible that selling by an institutional holder was behind the move. Volume in the stock accelerated as the stock collapsed, with more than 250,000 shares changing hands in the last half hour, or nearly one-quarter of Handspring's average daily volume.

Competitor

Palm

(PALM)

showed no such volatility, falling 2.1% for the day.