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Good Day For Mobile Ads: Millennial IPO Soars

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Updated: Millennial closed at an even $25 on the day, up 92 percent from the opening price and earning the company a one-day stock market valuation of $1.87 billion according to the New York Times.

Mobile advertising’s best days are likely still off in the future, but that hasn’t stopped investors from snapping up shares of mobile ad firm Millennial Media on its first day as a public company, nearly doubling the company’s value in a few hours.