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Short Take: Copper Mountain IPO raises $84 million

Copper Mountain Networks, a digital subscriber line (DSL) equipment provider, saw its stock spike as much as 236 percent during an initial public offering. Copper Mountain, which trades on the Nasdaq under the "CMTN" symbol, sold 4 million shares at $21 each, raising $84 million before fees for the company. Morgan Stanley served as the lead underwriter.
Copper Mountain Networks, a digital subscriber line (DSL) equipment provider, saw its stock spike as much as 236 percent during an initial public offering. Copper Mountain, which trades on the Nasdaq under the "CMTN" symbol, sold 4 million shares at $21 each, raising $84 million before fees for the company. Morgan Stanley served as the lead underwriter.