LinkedIn now trading at 520 times its 2010 net income
Today, the professional networking siteLinkedIndebuted on the New York Stock Exchange, trading at $83, up 84% from its initial public offering price of $45. LinkedIn’s offering of 7.84 million shares, led by Morgan Stanley, Bank of America-Merrill Lynch and J.P. Morgan Chase & Co., makes it the biggest U.S. Internet IPO since Google. At one point this morning, the stock (LNKD) was trading at $84.80 a share, valuing the company at nearly $8 billion, which is 520 times its 2010 net income according toThe Wall Street Journal....