Wait a minute...is it 2011 or 1999? LinkedIn's (LNKD) IPO was originally priced at $45. However, it opened at $83 yesterday morning and was at $90 in no time (where it remained for most of the morning). It sky rocketed to $120 later on, and then dipped to a closing of nearly $95!
At $90 per share, LinkedIn would be valued at $8.5 billion...one of the largest tech IPOs since Google (GOOG) in 2004. If you were to factor those numbers in for your calculations, LinkedIn is trading at nearly 570 times last year's earnings! This adds some controversy over the worthiness of its current price tag considering that LinkedIn valued itself at a mere $2.32 a share in the spring of 2009.
Which brings us to the question: