Shares of LinkedIn (NYSE: LNKD), the most highly anticipated initial public offering of the year, have almost doubled in value on their first day of trading.
The stock of professional networking site was priced at $45 per share in the IPO. As of 10:15 a.m. (EDT), shares are trading at $85.25 per share, about a 90 percent jump.
At the $90 per share value (which it reached earlier today), the company would be valued at about $8.5-billion, according to CNN.
LinkedIn has more than 100-million users around the world,
The success of its IPO is a good harbinger for other social network sites that are expected to someday go public, including Facebook.