He credits the increase to LinkedIn selling a relatively small number of shares, 7.8 million. IPO analyst Scott Sweet, the founder of IPO Boutique, said Thursday’s market debut was a good sign for those other social-networking companies. The short list includes: online messaging service Twitter, Web game maker Zynga, coupon site Groupon and Facebook, the social network that boasts more than 500 million users. LinkedIn’s valuation eventually may look modest compared to other Internet companies that are being touted as potentially going public in the next 18 months. The demand reflects investors’ belief that Internet services that connect people with common interests will be able to make more money as the Web’s audience steadily expands. Internet company since Google went public in 2004. The company raised $353 million in an IPO that valued it at $4.3 billion. LinkedIn Corp.’s initial public offering Wednesday night was priced at $45 per share, at the high end of the company’s initial target. Nymex, which operated the New York Mercantile Exchange, was acquired by CME Group Inc. company more than doubled in an IPO debut was Nymex Holdings Inc. has closed higher, ending up 134.5 percent when it debuted on March 30.
Only Chinese online security company Qihoo 360 Technology Co. That puts the company on track for one of the biggest first-day gains of 2011.
The stock traded at $103 at midday under the symbol “LNKD” on the New York Stock Exchange.
NEW YORK - LinkedIn’s stock more than doubled in its market debut Thursday because of huge investor demand for the first major U.S.