Palm Inc. stock was up 3%+ at $7.63 by Wednesday afternoon. Overall the stock is up a whopping 103% since the Pre was first announced at the Consumer Electronics Show this past January. All of this is in the midst of projected losses for the third fiscal quarter, by Palm. With Wall Street analysts predicting $157.7 million for the period, and Palm expects to come in between $85-$90 million.

But many analysts are banking on the coming of the Palm Pre phone, they feel that it will be a game changer for Palm. Other analysts are saying that by the time the Pre comes out there could be other smartphones that run on the Android platform and possibly and enhanced version of the iPhone, which would add to the already heavy competition in the smart phone market.

Either way you look at it, Wall Street is watching this closely and all eyes will be on Pre sales. Palm had better have it toghether for the launch, making sure it is smooth and with few errors in the new WebOS, or the phone itself!