LinkedIn IPO Surges

Bubble

Updated Apr. 24, 2017 3:42PM EDT / Published May 19, 2011 9:58AM EDT

Mark Lennihan / AP Photos

LinkedIn Corp.'s share price more than doubled in its first day of trading after its initial public offering. Shares of the largest professional-networking website, trading under the symbol LNKD, jumped $49.25 a share, or 109 percent, to close at $94.25 after earlier touching a peak of $122.70 on the New York Stock Exchange. LinkedIn ended the day with a market value of $8.91 billion, or about 24 times 2011 revenue, assuming its first-quarter sales are matched through the rest of the year.

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LinkedIn IPO Surges

Mark Lennihan / AP Photos