Palm stock sky rockets thanks to Lenovo buyout rumor

The graph above pretty much says it all, but to throw in a bit of context: at around 10:30 EDT this morning, a rumor ripped through Wall Street indicating that Lenovo (who you probably remember as the Chinese tech company who bought IBM’s PC division in 2005) was considering snatching up Palm.

In the roughly 3 hours or so that have passed, Palm stock has surged by just over 70 cents, or roughly 18%. If you crossed your fingers and dumped a few grand into Palm last night, you woke up this morning a happier person – or at least an equally happy person with a heavier wallet.

We’ll keep our ear to the ground for more info on this potential Lenovo/Palm takeover.