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Prior to the IPO, everyone was saying $45 was absurdly high. Now it's absurdly low.

This is a good point. Of course - for a banker it is not an opinion it is a full time job and at 7% they are very well compensated for it.

Goldman evidently thought it was overvalued, too. They sold all of their stock at the IPO price. So if their goal was to "scam" LinkedIn, they didn't do a very good job of it. http://finance.fortune.cnn.com/2011/05/19/goldman-leaves-lin...