Millennial Media's Palmieri speaks out after stock plunge

Millennial Media Inc. CEO Paul Palmieri insisted on Thursday his mobile advertising company is not having trouble competing against industry giants like Google, days after the company’s shares plunged by a third.

Milliennial’s fourth-quarter earnings fell short of Wall Street’s expectations and Palmieri said this week the lower-than-expected results were due in part to a few big deals not coming through late last year.

Appearing on CNBC’s “Mad Money” with Jim Cramer on Thursday, Palmieri…