The LinkedIn (LNK) Short

Stableboy has done a series of excellent posts on a LinkedIn short idea. This article from June about the expensive valuation (relative to sales) is a good one as well.

Today the company announced that they are selling additional shares to raise capital:

LinkedIn Corp. said Thursday afternoon that it plans to sell about $100 million worth of its shares in a public offering. The move comes nearly six months after the business social network's IPO. [The company] intends to use the funds 'to raise capital for the company, facilitate an orderly distribution of shares and increase the company's public float.'"

This is fantastic for shorts.