Millennial Media, Inc. (NYSE:MM) focused on expanding its operations to Argentina, Brazil and Mexico


Dallas, Texas 07/12/2013 (Financialstrend) – MM is effectively planning to expand its operations to Latin America via acquisitions and to gain market share in the actively expanding mobile advertising markets in the region. Paul Palmieri, the Chief Executive Officer, announced that the company is focused on expanding its operations to Argentina, Brazil and Mexico. In those regions the company is planning to increase its presence in the ever expanding markets for smartphones. The company provides an advertising platform which includes a system that enables advertisement to be delivered in real time through the MYDAS system. This is a data platform and it had reached over 300 million users in the worldwide markets with over 140 million users located in the United States. In April 2013 the company acquired Metaresolver. The company also has a portfolio of new products which includes Video SYNC, Video TOGGLE and Video TICKER. The advertising platform of the company is designed to automatically identify whether the phone or tablet is in portrait or landscape mode and also lock the orientation for the duration of the ad.

Millennial Media, Inc. (NYSE:MM) closed at $9.53 on Thursday, recording an increase of 5.89% in the share price for the day. The stock price fluctuated from a low value of $8.98 to a high one of $9.54 per share. The company currently has a 52-week low of $5.87 and a 52-week high of $9.54 per share. MM currently has 79.54 million outstanding shares in the market with institutional ownership of 79% of its total equity capital. Trading volume stood at 2.44 million shares on Thursday, with an average one for MM at 1.49 million shares per day.

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