To no one's surprise, 8x8 shares soared today as investors stampeded into the stock after the company unveiled a deal Friday with BellSouth to white label 8x8's VoIP service. In early trading, 8x8 soared $1.59 to $3.39 before settling to $2.67 (a 93 cent gain) by late-morning. If you owned 8x8 shares, the renewed interest is great but it should be pointed out the deal with BellSouth won't mean much if consumers don't buy the service in large amounts. As well, don't be surprised if the SEC has started to look at trading in 8x8 given the company's stock soared Friday after before the BellSouth deal was unveiled. Clearly, the news was leaked by someone associated with 8x8 or BellSouth.
Update: 8x8 closed up 80 cents at $2.54.