Borders Group Levitating! (BGP)

Borders Group (NYSE: BGP) stock has risen nearly 25% today to $1.63. There does not appear to be any news out regarding the company. The buying pressure has been sustained throughout the day, as the shares actually started the trading day in negative territory.

One major shareholder in Borders Group (BGP) is Bill Ackman who runs Pershing Square Capital. A couple of weeks ago, Ackman made some very bullish comments about Borders on Fast Money, and the stock reacted similarly. I would be willing to bet that the move in this name is a result of some sort of rumor which is making its way around Wall Street.