The S&P has nose-dived to below 1300, down roughly 90 points or 6% from two weeks ago, and it looks like it could fall further. Because of overall market weakness I have looked for richly valued stocks showing technical vulnerability. One is LinkedIn (NYSE: LNKD), which has broken an important uptrend line and is also selling at lofty multiples.
Thought of as "Facebook for the business world," LinkedIn caters to connecting business professionals, rather than friends.
The site is used for expanding career networks, making it a resource for job seekers and people collaborating within an industry.
Currently, over 150 million people across 200 countries are members. And, according to TechCrunch.com, approximately two new members join the site every second. (more)
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