Zynga filed for its much awaited $1 billion IPO this morning, revealing some impressive revenue and profit numbers. And it looks like recent tech IPOs Pandora and LinkedIn are seeing some major increases in stock value in morning trading after a rocky few weeks.
LinkedIn, which opened at $83 per share in May, has hovered between $60 and $75 per share for the past month, dipping as low as $60 per share. Over the past few days, LinkedIn stock has climbed upwards, closing at $89.94 yesterday. And today, stock reached as high as $94.99 this morning, giving LinkedIn a $9 billion valuation.
Pandora, which opened at $20 per share, has dropped as low was $12.10 per share, and has hovered between $12 and $15. Today, Pandora’s stock rose as high as $21.20, giving Pandora a $3.4 billion valuation.
We’ll see if Pandora and LinkedIn can sustain these stock values beyond today.