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LequteMan
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According to Economic Times, shares of LinkedIn Corp, operator of the most popular social network for professionals, fell 20 per cent in early trading on Friday, wiping out more than $6 billion of market value, after the company slashed its full-year forecast,
LinkedIn reported on Thursday its slowest quarterly revenue growth since it went public four years ago.
LinkedIn's shares fell to about $200 in early trading, far below their record high of $276.17 reached in late February.
The surprisingly weak results followed Twitter Inc's on Tuesday. Twitter's stock fell by as much as 24 per cent, slicing about $6 billion off its market value.
At least 23 brokerages cut their price targets on the stock, by as much as $65 to as low as $172.
Still, in contrast to Twitter, most analysts were upbeat about LinkedIn's prospects.
"The market is putting LinkedIn in the Twitter bucket," analysts at Stifel Nicolaus wrote. "We think the market is wrong. LinkedIn is not Twitter.
#Twitter #LinkedIn
LinkedIn reported on Thursday its slowest quarterly revenue growth since it went public four years ago.
LinkedIn's shares fell to about $200 in early trading, far below their record high of $276.17 reached in late February.
The surprisingly weak results followed Twitter Inc's on Tuesday. Twitter's stock fell by as much as 24 per cent, slicing about $6 billion off its market value.
At least 23 brokerages cut their price targets on the stock, by as much as $65 to as low as $172.
Still, in contrast to Twitter, most analysts were upbeat about LinkedIn's prospects.
"The market is putting LinkedIn in the Twitter bucket," analysts at Stifel Nicolaus wrote. "We think the market is wrong. LinkedIn is not Twitter.
#Twitter #LinkedIn
