Thursday, May 19, 2011

Breakfast Links?

3:49 am (Hawaii) LinkedIn's IPO price was $45, but CNBC is reporting that it's jacked up in a crowded-as-heck trading floor in NYC to $85. Sure smells like 1998 all over again. It isn't exactly as bad; at least LNKD had $3 mil in profit last year. Back in the dotcom bubble era, there were 10 bombs for every AOL or AMZN or EBAY or YHOO. So many companies that were bleeding money.

If LNKD opens at 85, it has nowhere to go but down. Good luck if you buy above 100. The profit-takers are going to exit the theater long before it catches on fire and the roof comes down on bagholders. Back when GOOG was an IPO, the best time to enter was a few months after the debut, when shares plummeted. Then it ran and ran and ran.

Whatever the case, this will make for great entertainment. Maybe a circus. Even AGQ might not be as hyper as LNKD, just for today.

Update 4:07 am (Hawaii) Freakalytics estimates LNKD's float at roughly 94.5 mil shares. LNKD went from 83 to 92.99 to 84.43 in less than 10 minutes. Just watching and being entertained here. 100% cash.

Freakalytics: LNKD analysis, insights (May 19 2011)

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