Stock of the day: LinkedIn
The professional networking site issues more shares to raise cash. Why does it need the money now?
By issuing shares, LinkedIn will add to its already sizable cash reserves -- which, coupled with a lack of debt, puts the company in a very strong position to expand. Argersinger thinks LinkedIn could go in a lot of different directions with the money, including expanding internationally and by acquiring smaller social media sites. No matter what the company decides to do, in the end investors are sure to profit from LinkedIn's ever-growing cash hoard.
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The more likely scenario is that the markets begin to rise from here -- and that bounce is just beginning to take hold.
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