Palm has seen a massive rise in its stock price today on the back of the unveiling of a new smartphone and operating system at CES in Las Vegas.

A month ago, Palm's stock was trading at $1.64 - an almost all-time low, however just moments after the press conference the stock drastically shot through the roof as the media and the industry reacted favourably to the announcement of the Palm Pre and the Palm webOS platform.

Palm Stock ended today on $4.45 up 34.8% on the opening figure for the shares.

Palm, who've said they plan to use the new platform for at least a decade will launch the new smartphone handset on Sprint in the US before June.

No word on a UK release has been confirmed as yet.