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With the excitement and chatter around the soon-to-be-released Palm (s palm) Pre reaching a fever pitch, the company’s stock ended Friday’s session at its highest level since Oct. 24, 2007. Shares of Palm closed Friday at $12.19, and at last check had traded hands for as much as $12.90. The Pre has been driving Palm’s stock since December, after it raised more money from its private equity backers, and rumors of the Pre started percolating. It also saw its largest volume of trading on Jan. 9, the day after it showed off the Pre at the Consumer Electronics Show. In the long run, one hot gadget may not be able to save Palm, but it’s unquestionably helping pump up the company’s shares in the week leading up to the Pre’s launch on June 6. For those who care about the phone, not the stock, check out Om’s quick hands-on review.