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The real question is, given the terrible performance of the RenRen IPO (which was hyped up lot), how will LinkedIn perform tomorrow? Anyone have a guess?
by il 15y ago
The real question is, given the terrible performance of the RenRen IPO (which was hyped up lot), how will LinkedIn perform tomorrow? Anyone have a guess?
- nl 15y agoTerrible performance? The stock rose as high as $21.93, or almost 56.6 percent above its $14 IPO price in its first day of trading on the New York Stock Exchange before closing at $18.01, or 28.6 percent, above the IPO price. Earlier on Wednesday, Renren raised $743.4 million in its IPO. http://www.reuters.com/article/2011/05/04/us-renren-ipo-idUSTRE7433HI20110504 http://www.reuters.com/article/2011/05/04/us-renren-ipo-idUS... It's now trading at $13.70, which is pretty close to what it floated at. That's a decent - if not great - performance for a company with as many questions as RenRen. I don't think you could characterize it as terrible though. (And I don't think it was hyped much at all. I follow this field reasonably closely and I hadn't even heard of RenRen)