LinkedIn Shares Double In First Morning Of Trading


After increasing its IPO price to $45 from $42, LinkedIn’s first day of trading this morning was already off to a strong start. Investor demand sent the price shooting up, more than doubling to $92.99 barely an hour after the market opened before settling between $87 and $90 by 11:30 am.

The professional social net debuted on the New York Stock Exchange today with a market value of $4.275 billion. Naturally, the price has many questioning whether we’re in the midst of another bubble.

“The valuation for LinkedIn (NYSE: LNKD) is rich,” said Michael Moe, chief investment officer of GSV Capital Management, told Bloomberg. “To earn the valuation, it has to continue to grow very, very fast.” More to come

You're subscribed! If you like, you can update your settings

Comments have been disabled for this post