Feeds

LinkedIn goes ballistic following IPO

Stockbrokers get stuck in door in rush to buy

Security for virtualized datacentres

Social-networking-for-suits site LinkedIn saw its shares go ballistic to double in price yesterday after the company's IPO.

The offering set a $45 per share price but in early trading the stock was changing hands for more than $120.

The price settled at $94.25 on the New York Stock Exchange making the whole company worth just less than $9bn.

Some have drawn parallels with the bubble stocks on the late 1990s, but LinkedIn is not a new arrival.

Back in the day, all a company needed was a bit of dot-com glitter to make themselves attractive to the stock markets.

This time the catnip for stockbrokers is any hint of networking. The price jump shows investors' hunger for a slice of any social networking company. It also reflects the lack of tech IPOs, or any other kind, in recent months.

The 100 per cent price rise also shows the markets' belief that networking sites – and what they really want a slice of is Facebook – are some kind of magic money tree.

Anyone remember Geocities? It managed a 119 per cent price rise on its first day of trading back in 1998.

Or what about QXL? The British eBay also managed a bit of a bounce on its first day of trading, despite criticism of its high valuation, which turned out to be warranted. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.