Phone.com Inc. (Nasdaq: PHCM) gave its investors a reason to cheer Monday by declaring a 2-for-1 stocks split. The maker of wireless communications software closed up 18 1/4 to 218 ahead of the announcement.
Its board of directors said the split will take effect on Nov. 12 to shareholders of record on Oct. 29.
The company said last week it would acquire the wireless business of Apion Ltd., which operates in Europe, for 1.3 million Phone.com shares.
After its spectacular initial public offering in June, Phone.com shares have made a terrific ascent.
The stock peaked at 228 7/8 earlier this month.
All five analysts following the stock maintain either a "buy" or "strong buy" recommendation.