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Rising Star Stock - Monday January 26th

In this new feature the traders reveal their favorite rising star stock. Find out which spurned tech name could offer investors a lot of love going forward!

This week’s rising star is Palm !

You're probably familiar with Palm, but in case you're not, according to its website, Palm focuses on creating instinctive yet powerful mobile products that enable people to better manage lives on the go.

As you might know the firm wowed crowds at the Consumer Electronics Show earlier in the month with it’s new Pre. Analysts say the gadget could help Palm regain some of the market share it lost to rivals Apple and RIM and their ubiquitous iPhone and BlackBerry. The Pre, which also has a touch screen, more than doubled Palm's shares over about 6 days after it was first introduced.

Here are some more particulars:

Palm (PALM)
-Based in Sunnyvale, CA
-Sector: Technology
-Industry: Computer Hardware
-Market Cap: $824 million
-Revenue: $1.17 billion
-52 Week Low $1.42

Considering the run in this stock already, are you late to the party?

Pete Najarian doesn’t think so. “I’m still on board and I continue to own calls in this name because I see more upside,” he says. “Palm will be going to the 3G World Congress trade show in a couple weeks and the Pre could steal the show again.”

Maybe put it on your radar!





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Trader disclosure: On Jan. 26th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (F), (FXI), (PBR); Seymour Owns A Short Position In (SNE); Seymour's Firm Owns (BIDU); Macke Owns (MS), (BAC), (SDS), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (PALM) Calls