Is LinkedIn Corp (NYSE:LNKD) Protesting Against U.S Government?

Posted by admin October 4, 2013 0 Comment 835 views

Numerous trade groups and companies such as LinkedIn Corp (NYSE:LNKD) have signed a letter that supports bills that will permit them to disclose additional details about the secret requests that the government sends out to them. The Center for Democracy and Technology submitted this letter.

This particular lobbying group was formed in mid-2012 by companies like Google and eBay. Others also joined the fray and Apple, Facebook, LinkedIn Corp (NYSE:LNKD), Microsoft, Yahoo and AOL also ended up signing the letter.

All these technology dominants have been protesting against the secrecy-restrictions that they have been riddled with. Some companies have also signed suits against the United States government that are in a pending status. The suits claim that they are forced to violate the right to free speech as they are not permitted to inform users about the number of requests the government has sent out to them. A letter had been sent out earlier to the White House and many companies had added support to it, requesting that the restrictions be loosened.

Thursday’s trading session

In Thursday’s trading, LinkedIn Corp (NYSE:LNKD) dropped by 2.44%. The shares opened at a price of $250.52, climbed to an intraday high of $254.20 and dipped to a close of $254.07. Approximately 1.86 million shares were traded on Thursday while an average volume of 1.75 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $94.75 and its 52-week high is $257.56. The company has a market capitalization of $27.47 billion.

About the company

LinkedIn Corp (NYSE:LNKD) is an online professional network with over 90M members across more than 200 countries & territories. Via the Company’s platform, its members create, manage as well as share their professional-identity online. They build and engage fruitfully with other members in their professional network, access shared-knowledge and insights. It is also an excellent place to find business opportunities.

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