STAN HONDA/AFP/Getty Images
Linkedin founder Reid Garrett Hoffman (center and CEO Jeff Weiner (2nd right) at the ringing of the opening bell of the New York Stock Exchange May 19, 2011.
Linkedin founder Reid Garrett Hoffman (center and CEO Jeff Weiner (2nd right) at the ringing of the opening bell of the New York Stock Exchange May 19, 2011. STAN HONDA/AFP/Getty Images
LinkedIn, the first big social media company to sell its stock shares publically is having an astounding debut. Shares of the online professional social network have nearly doubled in price today, starting with this morning's IPO at $45 and soaring at one point to nearly $93.
The San Jose Mercury News says it's the most anticipated web offering since Google went public in 2004, and wonders about the potential for more meteoric IPO's from sites such as Facebook and Twitter.
But hold on - the Wall Street Journal blogs "Bubble Alert!"
While this makes LinkedIn look like the greatest thing since sliced bread, there are a couple of huge caution flags in this monster opening jump.
The WSJ suggests if there's monster public demand for LinkedIn, the underwriters clearly set the IPO price waaaaay too low. And second, it appears the private market didn't correctly value the company either, and perhaps can't be trusted.