Media doubled in the mobile advertising company's market debut Thursday, as the IPO market heats up this spring. Millennial's quick ascent follows pasta maker Annie Inc.'s splash Wednesday.
(MM US) more than doubled to $26.25 on the first day of trading. The second-largest mobile- advertising company in the US sold 10.2 million shares for $13 each in an initial public offering. Red Hat Inc.
Media, the second-largest mobile ad firm in the U.S., opened at $25 on the New York Stock Exchange this morning, up from an initial price of $13.
While Millennial Media and Annie's scored in their IPOs the past two days, investors weren't nearly as enthused with CafePress, which was flat in its debut Thursday. Abpve.
— Shares of Millennial Media nearly doubled in the mobile advertising company's market debut Thursday. The Baltimore company and its stockholders raised $132.6 million in an initial public offering of 10.
Millennial Media just debuted on the New York Stock Exchange under the symbol "MM," and saw shares pop 97 percent in the first trade of $25.
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