Thursday, May 19, 2011

LinkedIn IPO skyrockets, trades as high as $92.99 a share | Technology | Los Angeles Times

LinkedIn IPO skyrockets, trades as high as $92.99 a share | Technology | Los Angeles Times

LinkedIn shares skyrocketed more than 80% to trade at about $86 a share, and at a high of $92.99 a share, on Thursday as the social networking site launched its initial public offering.

Shares for LinkedIn's IPO were priced at $45 a share on Wednesday, putting the company at a valuation of about $4.3 billion.

Many analysts expected shares in the largest social network aimed at professionals to rise as LinkedIn traded on the New York Stock Exchange for the first day, using the symbol LNKD.

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