Social-media companies, take note: LinkedIn Corp.'s swift rise on its first day of trading Thursday proves that U.S. investors are hungry for similar stories.
The professional-networking site's shares opened at $83 on the New York Stock Exchange, up 84% from its initial public offering price of $45. It was recently changing hands at $85.99 a share, up 91%, valuing the company at nearly $9 billion.
LinkedIn's IPO had priced at the high end of its expected $42 to $45 range, which was boosted by $10 earlier this week in the face of strong demand.
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The professional-networking site's shares opened at $83 on the New York Stock Exchange, up 84% from its initial public offering price of $45. It was recently changing hands at $85.99 a share, up 91%, valuing the company at nearly $9 billion.
LinkedIn's IPO had priced at the high end of its expected $42 to $45 range, which was boosted by $10 earlier this week in the face of strong demand.
More
