shares of casa systems inc casa rocketed 491 to pace all premarket gainers monday after the communications infrastructure company announced that verizon communications inc vz will take a 99 stake in the company as part of a multiyear purchase contract under terms of the contract verizon will buy 40 million worth of casa stock and casa will provide its 5g core network functions to verizon that will make verizon the third largest shareholder according to factset data behind the 128 stake owned by chief executive jerry guo and the 404 stake owned by summit partners lp this announcement is an important milestone for our 5g core and security gateway technology as well as the growth potential of our business guo said the stock which matched a 19month closing low as recently as april 12 has tumbled 314 year to date through thursday while the sp 500 spx has slipped 78