Is Palm Throwing In The Towel? One Executive Is Already Cashing Out

Palm, Inc. (Nasdaq: PALM) Director, Gordon Cambell, disclosed the sale of 106,939 shares of PALM common share on 6/29 at $15.84/share, following the exercising of options on the exact same number of shares at prices from $2.21-$5.46. Cambell’s remaining direct holding in the company following the sale is “zero” shares.
The options had Expiration Dates between 10/28/2013 and 09/12/2014.
Shares of PALM have seen a meteoric rise this year due to the successful development and launch of the new Palm Pre smartphone. The stock is up an amazing 436% YTD. Cambell has been a director of Palm since since September 1999.
Is this the end of the unbelievable ride that Palm has taken it’s investors on for the last 12 months or was this executive jumping the gun? The stock is up another 5% even on this news. [street insider]