Millennial CEO makes million-dollar stock purchase - Technical.ly Baltimore

Business

May 14, 2014 12:24 pm

Millennial CEO makes million-dollar stock purchase

Millennial Media got a huge investment from die-hard believers.

(File photo)

Millennial Media CEO Michael Barrett purchased nearly $1 million in company stock this week, an apparent effort to bolster investors’ outlooks after Millennial reported a massive quarterly loss.

The Baltimore Business Journal reports Barrett bought 291,000 shares of the Canton company’s stock between Monday and Tuesday. The move was clearly an effort to reverse a stretch of bad news for the public company.

Barrett’s investment seems to have been an encouraging sign to investors after astring of bad news for Millennial. As of 10:30 a.m. Wednesday, Millennial stock was up 8.73 percent, at $3.86 a share.

Last week, as Technically Baltimore reported, Millennial recorded a $12.9 million loss for the first quarter of 2014. CFO Michael Avon announced his departure effective June.

Read the full story at the Baltimore Business Journal.

-30-
LEAVE A COMMENT

Advertisement

Personal Genome Diagnostics closes $75M Series B, plans second Baltimore office

Camden Partners’ early-stage venture fund makes final close

Maryland startup gets investment from the intelligence community’s investment firm

SPONSORED

Baltimore

How Think|Stack and Year Up are cultivating local tech talent

Baltimore

Terbium Labs

Analyst

Apply Now
Owings Mills, Maryland

Mind Over Machines

Consultant (Software Developer)

Apply Now
Baltimore

Protenus

Data Engineer

Apply Now

Report: Baltimore needs stronger financing system to bring more capital to startups

Snag-A-Slip raises $4.8 million Series A, plans hiring

The RevUp Fund is expanding to Baltimore

SPONSORED

Baltimore

Let these free workshops help your business really take off

Baltimore

Protenus

Front-End Developer

Apply Now
8 Market Pl, Suite #402, Baltimore, MD, 21202

PaRaBaL

Development Support Engineer

Apply Now
8 Market Pl, Suite #402, Baltimore, MD, 21204

Parabal Inc.

Enterprise Mobility Engineer

Apply Now

Sign-up for regular updates from Technical.ly

Do NOT follow this link or you will be banned from the site!