LinkedIn shares drop 43% as weak forecast spooks investors

The professional social networking website's stock plummeted to three-year low of $110.01 after revenue predictions fell much shorter than expected

LinkedIn Corp's shares plunged as much as 43% on Friday, wiping out nearly $11bn of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations.

The stock sank to a three-year low of $110.01 in early trading, registering its sharpest decline since the company's high-profile public listing in 2011. At least seven brokerages downgraded the stock from "buy" to "hold" or their equivalents, saying the company's lofty valuation was no longer justified.