Shares of Research In Motion (RIMM.O) (RIM.TO) surged on Wednesday on takeover speculation a day after the BlackBerry maker's stock fell below $20 for the first time in almost six years. The stock jumped nearly 14 percent after The Independent newspaper published a report saying Vodafone (VOD.L) could consider buying RIM, citing market talk. Vodafone failed to comment on the report, but industry observers said it would be highly unusual for a wireless company to purchase a handset manufacturer. RIM's stock has been buffeted in recent days as speculation swirled about how the struggling Canadian smartphone maker would respond to a sharp decline in its share price this year.
Shares of RIMM traded higher by 14.19% or $2.98/share to $23.98. In the past year, the shares have traded as low as $19.29 and as high as $70.54. On average, 24247700 shares of RIMM exchange hands on a given day and today's volume is recorded at 44093804.
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