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LinkedIn the U.S social network site for professionals started trading a few days ago,the stock was priced around 45 dollars and on the first day of trading reached a peak of a little over 100 dollars which is a more than 100% gain.
Interestingly, according Bloomberg the share is trading over an astounding 1300 times earnings!!and most pundits are talking of a tech bubble in the U.S reminiscent of the 90s tech bubble,where similar valuations were the norm!.
The financial world continues to amaze me ,and the degree of human greed is simply amazing.
Thought of sharing this just to highlight that it is not only here in Sri lanka that certain stocks go crazy...seems to be the same everywhere.!
Interestingly, according Bloomberg the share is trading over an astounding 1300 times earnings!!and most pundits are talking of a tech bubble in the U.S reminiscent of the 90s tech bubble,where similar valuations were the norm!.
The financial world continues to amaze me ,and the degree of human greed is simply amazing.
Thought of sharing this just to highlight that it is not only here in Sri lanka that certain stocks go crazy...seems to be the same everywhere.!
