LinkedIn, The 8-year-old company, based in Mountain View, Calif., shares skyrocketed more than 80% to trade at about $86 a share, and at a high of $92.99 a share, on Thursday as the social networking site launched its initial public offering.
Many analysts expected shares in the largest social network aimed at professionals to rise as LinkedIn traded on the New York Stock Exchange for the first day, using the symbol LNKD.
LinkedIn CEO Jeff Weiner, sold $5 million worth of shares at the IPO, but still has another 2.2 million shares worth approximately $196 million as of writing with shares around $89, which could be way off by the time you read this. That is sure to make Weiner more popular, so let’s all add Weiner to our LinkedIn network before it’s too late!