Palm has recently released its third quarter fiscal year 2010 earnings. The company reported a net loss of $22 million, an improvement over net loss of $98 million reported during the same quarter in 2009, which has led to a 25% dip in shares. Palm also reported $349 million in revenues, an increase from the $90.6 million it reported during the same quarter in 2009.

According to Morgan Joseph analyst Ilya Grozovsky’s current rating on the stock is “sell”, “The death spiral is accelerating.” Technically, this is exactly what the 25% dip in shares means and if Palm keeps on at this downward trajectory, eventually they’re going to hit a spot…