Thursday, May 19, 2011

LinkedIn More Than Doubles In IPO

Mountain View-based LinkedIn more than doubled its initial offering price, closing its first day in trading at $94.25. The firm, which debuted Thursday morning at $45.00 per share, had traded as high as $122.70 in extremly high demand for the social networking site. LinkedIn provided one of the best, one-day gains for IPOs since the 1999-2000 technology bubble.