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Shares of LinkedIn (LNKD) Soar in Successful IPO

Financial News Network
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May 19, 2011 AT 6:23 PM
Shares of LinkedIn (NYSE:LNKD), which started trading on the New York Stock Exchange this morning have skyrocketed in price, currently trading up over 104% to $92.00. This values the company at $8.5 Billion dollars, which is $5 Billion higher than what was anticipated. The business oriented social networking site is the first of its kind to go public. With the great success of this IPO, investors will be on the lookout for news from Facebook, Groupon, Twitter and Zynga. Underwriters on the IPO were led by Morgan Stanley (NYSE:MS), Bank of America Merrill Lynch (NYSE:BAC) and JPMorgan (NYSE:JPM).