Written Yesterday (May 19, 2011)
This morning I spent reading day missing out on one of the best investments in my short stock trading life. The only stock to watch today was LNKD, better known as LinkedIn the social professional networking, it went to market today for the first time and just blow up. It’s IPO was at $45 and by 11:45 it was also at $123, it hit it’s peak at that point, it made traders all over the world very happy. Not only did this company make a lot of money today but it sets the stage for the more powerful social media website IPOs like Groupon, Twitter and the most powerful of all social media websites, Facebook.
During todays crazy amount of trading, I kept visiting StockTwits.com for what traders were saying on the $LNKD page, when one comment posted said “to the young traders this is what 1999 felt like”. The comment was a reference to 1999’s Dot Com Bubble, where the internet was creating the biggest money makers Wall Street has ever seen and LNKD is only the beginning of the IPO madness for this year, but this time it’s not about Pets.com, it involves social media websites that makes real money. In 1999 company’s were rushing to the IPO in order make some cash, but today its a more refined version of 1999, 1999 2.0. These companys are not setting up to be a quick flip but are on there way to be very established tech companies like Google, Amazon and Ebay. Here come the almighty Dot Com IPOs lets just hope they don’t disappoint.
