Short Take: Phone.com rockets in first day of trading

By Scott Martin
Staff Writer, CNET News

Phone.com more than doubled in its first day of trading today. The Internet-software-for-mobile-phones provider opened at 16 and closed at 40.125, a 150.78 percent gain. The Redwood City, California-based company trades on the Nasdaq under the ticker symbol "PHCM" and after today's gains has a market value of $1.22 billion. Managers in the offering included Credit Suisse First Boston Corporation, Hambrecht & Quist LLC, BancBoston Robertson Stephens, and U.S. Bancorp Piper Jaffray.

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