| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
$LNKD – LinkedIn Corp. (Last:108.38)
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
rickackerman.com / Rick Ackerman / February 7, 2016, 6:15 pm EST
The unicorn stocks have been falling so steeply lately that you can practically hear the hot air coming out of real estate in Silicon Valley and San Francisco. LinkedIn, a cloud-based business with an opulent campus in Mountain View, ranks high on the list of Nasdaq hotties with inflated share values based more on the outrageous greed, stupidity and hubris of investors than on any fundamentals. For perspective, however, it should be noted that LNKD’s core business, helping professionals network their skill sets, has far greater economic usefulness, perforce, than Twitter, which as far as one can tell was designed to allow Kim Kardashian, Justin Bieber and other world-class narcissists to communicate with their fans at all hours of the day and night.
That LinkedIn would eventually run into earnings problems should have been apparent to LNKD users, if not to clamorous investors, years ago. Here is a company, after all, that grows its subscriber list virally by filching names from users’ email clients. Fifty years ago, Stanley Goldblum, the criminal mastermind behind the Equity Funding scandal, went to prison for a similar scheme, although his suspiciously large mailing list was mostly fabricated rather than stolen. LinkedIn has been almost as brazen, sending users frequent email invitations to link to people in their Outlook contacts folder who have been dead for ten years. That this tactic raised nary a red flag on Wall Street is testimony to the stupidity of the supposedly smart money.
On Friday, the chickens came home to roost when LNKD shares plummeted to 102.81 after settling a day earlier at 192.28. They missed estimates by a mile, begging the question of which Wall Street geniuses did the estimating. Don’t look for a quick recovery either, since, like Yahoo, their business model has utterly failed. Maybe the two companies can join forces and produce virtual widgets for the masses? In any event, the technical picture suggests LNKD may have significantly farther to fall. Although my proprietary Hidden Pivot analysis provides no specific target at the moment, it seems logical to infer that the stock will grope its way down to at least $90 before finding traction — or even to $60 if 2012’s lows don’t hold. The obligatory bounce in the meantime is going to be a doozey, so we’ll be looking to trade both sides of the market. Tune to the chat room for guidance in real time if you’re interested.
The post $LNKD – LinkedIn Corp. (Last:108.38) appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/07/lnkd-linkedin-corp-last108-38/
