Barnes & Noble up for sale

Shares of Barnes & Noble soared in premarket trading on Wednesday after the nation's largest bookseller said it is considering strategic alternatives, including putting itself on the market.

Shares of Barnes & Noble soared in premarket trading on Wednesday after the nation's largest bookseller said it is considering strategic alternatives, including putting itself on the market.

Shares rose $3.26—or 25%—in premarket trading to $16.10.

Analyst Gary Balter said it may be difficult for the company to find a buyer and the announcement is not a surprise. Shares have fallen by more than half since April.

The company is feeling pressure from online competitors and discount booksellers as well. It has shifted its focus to the rapidly growing e-book market, but struggled to establish itself in the digital arena.

However, potential profits from the mass adoption of e-books are enormous. CEO William Lynch recently said the company has a 20 percent share of the e-book market.

Goldman Sachs estimates e-books will make up 12.8% of overall book sales by 2015.

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