Linked in up nearly 100% at one point on its NY debut. Eat that Glencore.
So at least we now know who the new stock market darlings are to replace Mining and Resoucres; its Social Media.
On this performance, Facebook is going to hit those extreme valuations that I laughed so hard at. Linked in isnow rated at 25x earnings compared to Google's 6x.
Yikes, a nice bubble pumper up by the algorytms, funny money and poor retail investors piling in becuase there is no interest in the bank.
This ends badly of course, as LinkedIn has no real way to earn money, I use it myself but would never pay for its services, its handy but inessential. Twitter et al have all had this revenue problem for a long time and not resolved it.
Still, anyone know any UK companies listed or going to list tht can tap this crazy mania!?