We recently published a list of These 10 Stocks Soared by Double Digits Today! In this article, we are going to take a look at where MNTN, Inc. (NYSE:MNTN) stands against other stocks that soared today.
MNTN Inc. soared by 25.52 percent on its first day as a publicly-listed company, representing a vote of confidence among investors despite a lackluster performance in the broader market.
In its first trading day, MNTN, Inc. opened at $21, rallied to as high as $26.88 apiece or a 68-percent jump from its initial public offering (IPO) price of $16, before early profit-taking pulled it back slightly toward the end.
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MNTN, Inc. successfully raised $187.2 million in fresh funds from the sale of 11.7 million shares consisting of 8.4 million Class A common shares and 3.3 million Class A shares being sold by existing shareholders.
The company said it will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholders.
Founded in 2009, MNTN, Inc. is an advertising platform for internet-connected televisions whose chief executive officer is Ryan Reynolds.
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This article is originally published at Insider Monkey.
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