LinkedIn made a big splash on its first day as a publicly traded company. It’s stock price soared into the stratosphere, far beyond its opening at $45, which turned out to be a good call by LinkedIn executives, who previously considered offering it at $34. The business social network sold 7.84 million shares at $45 each on Wednesday. Thursday was LinkedIn’s first day of trading after its IPO, and its stock price more than doubled almost instantly. It debuted on the New York Stock Exchange at $83. At press time, the price sat at $95.
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LinkedIn Flies High on Day 1
Posted by: Rob Spiegel May 19, 2011 12:39 PMLinkedIn made a big splash on its first day as a publicly traded company. It’s stock price soared into the stratosphere, far beyond its opening at $45, which turned out to be a good call by LinkedIn executives, who previously considered offering it at $34. The business social network sold 7.84 million shares at $45 each on Wednesday. Thursday was LinkedIn’s first day of trading after its IPO, and its stock price more than doubled almost instantly. It debuted on the New York Stock Exchange at $83. At press time, the price sat at $95.