NEW YORK (AFP) - shares of social network LinkedIn more than doubled in price after the launch of Thursday on the New York Stock Exchange in a stock of tech feeding frenzy reminiscent of the famous bubble.
LinkedIn stock topped $ 100 times but closed the day of trading at $94,25 per share, giving the company a market value nearly $ 10 billion.
LinkedIn had more valuable SOP of Internet US since Google has become a company listed in 2004, according to research firm, the capital of the Renaissance, which specializes in the newly public companies.
The projection by LinkedIn could "pave the way for other social networking companies take the IPO plunge", maintained Renaissance.
The career and business-oriented social networking online service launched its stock at $45 per share at the start of the day.
"It's really good timing, when everyone is paying attention to technology, in a new light," Cantor market analyst Fitzgerald U.S. said Marc Pado.
The company raised from investors Wednesday after climbing $ 353 million prices its initial public offer (IPO) by 30 per cent to take advantage of an application suffer from hunger for the first major American social network company to make public.
The launch of IPO price was much higher than the range of $32-35 $ announced a week earlier and a value of $ 4.25 billion. LinkedIn was income of $ 243 million and a net profit of $ 3.42 million last year.
The beginnings of LinkedIn was the first great test of demand for Internet stocks in the years.
The fervor to get asked shares of comparisons of the dot-com bubble which celebrates broke out in January 2000, sending the Nasdaq stock exchange in free fall technology-oriented.
The index is still 40% below its peak.
Investors hunger for issues in hot business social networking such as Facebook and Twitter, which have remained private while capturing fans and influence the ways of life around the world.
"They want that exposure to these types of businesses, social networking, and LinkedIn companies was their first chance, said Morningstar analyst Bill Buhr." It seems that everyone has taken it. ?
LinkedIn has collected the advantage of being a "proxy" for Facebook and Twitter in the eyes of investors, according to the analyst.
"That has to be part of what is the engine," said Buhr.
"It is not yet a bubble," he continues. "We need to see what other companies".
Titan of social networking that Facebook is supposed to be planning an IPO next year.
It will be important to see if LinkedIn lived until investors hope in the coming year or two, according to analysts. Morningstar has advised investors that she felt LinkedIn shares was surfacturées.
"The industry is young, but we are very positive on the Outlook for the company," analyst main Morningstar Rick Summer said in a position online.
"Still, even good companies should be purchased unless they are worth."
Largest social network in China, Renren, became public on 4 may at a price of IPO of $14. Shares climbed in the first days of bargaining, but since have fallen and closed Wednesday at $13.70.
LinkedIn brings together people online to grow and manage their careers and business networks.
It has more than 100 million members in more than 200 countries and territories, with 44 million to the United States.
The California company launched in 2003 and raises money to fuel expansion.
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