LinkedIn - Another DotCom Bubble?
New York saw amazing hikes in LinkedIn's share price with yesterday's share offer - at one stage the shares were trading at $122 after they originally opened at $45 each.
This outstanding interest in social media stocks is surely paving the way for Facebook and Twitter to follow suit.
Estimates say that the the company is now worth $10bn, that is 25 times it's current revenue. LinkedIn's own PR is now saying it has a market capitalisation greater than MolsonCoors, JCPenny, Tiffany & Co, Royal Caribbean Cruises, Hertz and United Continental Holdings the worlds largest airline.
Is this a show of over-enthusiastic demand for social media stocks, as LinkedIn is the only outlet for that demand in the US and so should the other SM brands race to join the feeding frenzy or should they wait out and see what happens next.