On Tuesday, brokers borrowed 1.17 million shares in social networking site, LinkedIn Corp. which is newly listed on the stock market, which shows that the company is performing well. The shares of the company are one of the most expensive shares in the market and many investors consider it a significant performance.

The share price of LinkedIn was more than doubled during the early days of initial public offering and it has reached a market value of nearly $9 billion last week. Shares of the company rose 1.8% on Wednesday and were traded at $97.16 in early trading.

Astec's data reveals that the average wholesale rate to borrow LinkedIn was 86% on Tuesday. The data has also shown that LinkedIn is the fourth-most expensive stock in the U. S. to borrow at present. Astec’s data has also disclosed that very high rates of the shares are linked with a scarcity of stock to borrow, with utilization rates such as 90% to 100%.

Andrew Shinn, Director of Research for SunGard's Astec Analytics Unit said that LinkedIn’s stocks were immediately sold in the market which is great news for the company.