Based on the success of LinkedIn's (LNKD) IPO. Bigger than Google in Russia Yandex, internet company, holds 64% of the market and Google's 22% market for internet search, due to price its IPO later in New York, plans to sell shares at between $24 and $25 each, compared to an earlier $20 to $22 range.
LinkedIn (LNKD) is trading at a price of $88.30, a dramatic change of -4.79 with % change of -5.15% from its previous day's close. Currently, the company has a Market capitalization (total value of a company in the stock market) of approximately 8.34B.
Google (GOOG) is trading at a price of $518.39, a dramatic change of -5.64 with % change of (-1.08% from its previous day's close. Currently, the company has a Market capitalization (total value of a company in the stock market) of approximately 167.05B.
Yandex would be the biggest float by an internet firm since Google raised $1.67 billion in 2004. It will list on the Nasdaq Stock Market under the symbol YNDX. At $24 a share, Yandex would be valued at $7.71 billion, making it the fourth largest IPO year-to-date after HCA (HCA), Kinder Morgan (KMI) and Nielsen (NLSN). Russian Internet giant Mail.ru Group Ltd. (MAIL) made its public trading debut on the London Stock Exchange last year.
Morgan Stanley (MS), Deutsche Bank (DB) and Goldman Sachs (GS) are the lead underwriters for the offering. LinkedIn (LNKD) dropped hard on Monday due to negative press over the weekend. I don't feel LNKD is a good investment right now but will be trading it on major pullbacks. Support is $80.
ETF's To Watch: iShares Silver Trust (SLV), Direxion Small Cap Bear 3X Shares (ETF)(TZA), iPath S&P 500 VIX Short-Term Futures ETN (VXX), SPDR Gold Trust (ETF) (GLD), Direxion Daily Small Cap Bull 3X Shares (TNA), ProShares UltraShort QQQ (ETF)(QID), PowerShares QQQ Trust, Series 1 (QQQQ), ProShares Ultra QQQ (ETF)(QLD), SPDR S&P MidCap 400 ETF (MDY), SPDR S&P 500 ETF (SPY), ProShares Ultra S&P500 (ETF)(SSO), ProShares UltraShort Real Estate (ETF) (SRS)
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