We don’t typically report on the ebb and flow of Palm’s stock, but today we’re seeing some serious spikes in activity. Typically, stocks respond positively or negatively to announcements – new phones, competitors new phones, etc. Nothing we’ve seen suggests any new product announcements are forthcoming today, so why is Palm rising? We’re certainly not qualified to say why, but it’s encouraging to see the company’s chart moving in the positive direction.
Update: According to TradingMarkets, the activity is based upon rumors of Palm being a takeover target, with Lenovo Group being the potential suitor.