LinkedIn LNKD is trading up big on its IPO. Is this our RenRen? RENN IPO’ed on Nasdaq on May 4th, soon after the rest of the Chinese Internet space got hit pretty hard. We’ll have to wait and see.
Dan thinks this thing will ultimately go to $100 at some point because “people like round numbers.” The options should be listed in about 2 weeks at which time we’ll re-visit it to look at some strategies.
If you feel that this is all getting a little silly, the fact that private valuations for companies like Twitter and Facebook seem to move up by billions of dollars a month and that LKND has an $8.5billion market cap on its opening day (almost half of YHOO‘s!) then express this thesis in low premium *Put Spreads or Flies as we have discussed in names like NFLX/PCLN/AMZN.
*Options won’t be listed in LKND at least until next week some time.