Borders shares are up by nearly half on Wednesday's announcement of new financing and a plan to revive sales.
The nation's No. 2 traditional book seller says it will boost expand its e-bookstore, revamp its loyalty program and improve its in-store book assortment.
Borders' shares rose 82 cents Thursday, or 47.7 percent, to $2.54 at midday Thursday.
Sales have been Borders' weak spot. The company said Wednesday that sales in stores open at least a year fell 14 percent for its most recent quarter — compared with 5 percent at No. 1 Barnes & Noble.
Interim CEO Mike Edwards said the company will launch an e-book reader with access to 2 million books that is compatible Apple's the iPad.
Borders is based in Ann Arbor, Mich.
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