NEW YORK (CNNMoney.com) -- Palm's future already looked bleak. But after reporting worse than expected results for the third quarter Thursday, some analysts think the company's stock is now essentially worthless.

Shares of Palm (PALM) plunged 19% to $4.59 a share early Friday, a new 52-week low. Investors are becoming increasingly pessimistic about the company's future and several analysts downgraded their positions on the stock to "sell." Two analysts even lowered their price targets to $0.