LinkedIn shares priced at $45 and quickly surged as Wall Street proved that it just can't get enough of those social networking shares.
On Thursday, LinkedIn made its marketing debut, traded north of $90 initially and then spiked to $122 before closing at around $94. Of course that means LinkedIn, valued at $4.5 billion as of last night, left a good amount of money on the table.
Here's a look at LinkedIn trading through the day.
The close:
Midday:
And early trading.
LinkedIn priced its initial public offering at $45 a share on Wednesday. The IPO price, which was raised, indicates a voracious investor appetite for social networking plays. LinkedIn will trade under the ticker LNKD, according to a statement. On Tuesday, the company raised its price range to $42 to $45 a share, up $10 from the previous range.
So what do you get for your money?
The company in SEC filings has warned that it expects revenue growth to slow going forward and that it won't be profitable in 2011. Then again, LinkedIn is investing for future growth. Toss in the fact that many LinkedIn users aren't regular users and you have all you need for quite a debate.
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