Shares of Research In Motion (Ontario, Canada) jumped more than 14% on Wednesday morning on takeover speculation a day after the BlackBerry maker fell below $20 for the first time in almost six years.
The stock jumped $2.95 to $23.95 on the Nasdaq by 11 a.m., with a market report from British newspaper The Independent citing unsubstantiated talk that Vodafone (London, England) could consider buying RIM.
RIM's stock had jumped nearly 10% on Tuesday on speculation it had hired an investment bank, before retracting and then clawing back some gains after Apple's new iPhone launch event failed to impress investors.
RIM, best known for its development of the blackberry, has been struggling to complete against other vendors, specifically against the Apple iPhone and Google Android. In July the company announced its plans of laying off 2,000 of its employees
Vodafone, who has been breaking into emerging markets to make up for weak economies around Europe, had just announced the launching of an R&D center in Silicon Valley.
(Reporting by Alastair Sharp)