Takeover Rumors Continue to Inflate Palm's Stock
Shares of Palm Inc today rose more than 10% to close at $18.30. The trading volume was more than five times the usual daily average. Today's rise follows up on the ~8% gain seen two weeks ago. Again the buying is being fueled by rumors that Palm is a takeover target. Last time it was Motorola, this week the latest unsubstantiated rumor is that Nokia is interested.