by Greg Guenthner
Daily Reckoning
Microsoft just fired off a $26 billion rocket that has all but destroyed the ailing social media space…
The software giant plunked down $26.2 billion to acquire LinkedIn, the annoyingly pushy “professional network” where work acquaintances beg you to add them to your list of business buddies.
The biggest social media purchase in recent memory set off a shockwave of excitement across the markets. Sympathy moves from other troubled social media stocks like Twitter and Yelp sprung up. The bag holders are already licking their chops over more buyouts that might never materialize. If LinkedIn can get bought out for a premium of nearly 50%, then they also have a chance, right?
Let’s take a moment to cut through the hype…