Andreessen buys 1 million Loudcloud shares
Loudcloud announced Wednesday that its chairman, Marc Andreessen, purchased 1 million shares in the company on the open market during the month of June. Shares in Loudcloud, which manages Internet infrastructures for online-intensive businesses, have been suffering since it debuted at $6 a share in an ill-timed IPO this past March. The stock was boosted 50 cents, or 25 percent, to $2.52 on news of Andreessen's purchase.
Loudcloud announced Wednesday that its chairman, Marc Andreessen, purchased 1 million shares in the company on the open market during the month of June.
Shares in Loudcloud, which manages Internet infrastructures for online-intensive businesses, have been suffering since it debuted at $6 a share in an ill-timed IPO this past March. The stock was boosted 50 cents, or 25 percent, to $2.52 on news of Andreessen's purchase.