Barnes and Noble's roller coaster stock ride

Shares of Barnes and Noble soared up after activist investor Ronald Burkle sent a letter seeking to increase his ownership stake from 19% to 37% of issued shares, reports The Wall Street Journal.

With the stock alternating between declines and sharp rises, it's been an interesting ride this year. The stock had declined somewhat after poor holiday sales were announced. There was a quick jump as rumors swirled that Apple's eBook initiative was a partnership with Barnes and Noble for content, and then dropped just as suddenly once the news broke on January 27th that Apple has cut deals with publishers directly. Now, with news of Ronald Burkle trying to acquire more and more of the company without triggering an anti-takeover poison pill, the stock is up sharply again.

DISCLAIMER: Last year I was a shareholder for Borders, and currently own a fairly small percentage of stock in Barnes and Noble.