NEW YORK- LinkedIn threatened stocks tumbled to its lowest price in the level of U.S. $ 30 per share. Gamco Investors Inc., estimates that this will happen because investors will take action on sales, given the professional networking company's stock price is already too high.
Linkedin founder Reid Hoffman Garrett (center) and CEO Jeff Weiner (second from right) during an initial public offering
on the New York Stock Exchange, May 19, 2011.
Linkedin founder Reid Hoffman Garrett (center) and CEO Jeff Weiner (second from right) during an initial public offering On the first day of trading in shares, 19 May 2011, LinkedIn stock had shot up to double that level to 122.70 dollars per share, from the opening price at level 45 U.S. dollars per share. However, the following days LinkedIn stock prices continue to decline. Tuesday (05/24/2011), LinkedIn stock price fell 5.2 percent to a position of 88.30 dollars per share.
In the implementation of an initial public offering, neither the initial public offering (IPO), LinkedIn to sell as many as 7.8 million shares. While as many as 85.7 million shares of class B pocketed by insiders and investment managers. Class B shares may not be sold until 180 days after the IPO.
"Because of the availability of stock on the market rose, stock prices will go down. Investors immediately sell shares to take profits," says Lawrence Haverty, Gamco Investors Inc. analyst.
