Palm Stock: Investors Indignant About Pre Release Date

The market is not taking kindly to the just-announced June 6 release date of the Palm Pre – the so-called “iPhone killer” – through Sprint Nextel Corp. (S).

Palm (PALM) stock was down more than 6 percent a little before noon Eastern on Tuesday, at $11.32. The day’s low point by that time was $10.89.

Apparently, investors are displeased that the Palm Pre will only have 48 hours of selling time before Apple Inc. (AAPL) lets fly its new iPhone. The Palm Pre also will have a higher price tag than Wall Street expected, while the new iPhone will come with cheaper calling plan options.

Perhaps the only iPhone killer, then, is the iPhone itself…