LinkedIn Stock Tanks Despite Company's Professed Confidence
LinkedIn last week lost about $11 billion in market valuation after it provided a 2016 revenue forecast that fell short of analysts' expectations. The company's stock fell by as much as 44 percent Friday afternoon, with shares hitting a three-year-low of $108. LinkedIn generated $862 million in revenue in its fourth quarter of 2015, a 34 percent gain year over year, but said it expected to make $820 million for the first quarter of 2016 and between $3.6 billion and $3.65 billion on the year.