NEW YORK (TheStreet) -- LinkedIn (LNKD) shed 6.8% to $221.13, as of 1:50 p.m. New York time. The company has traded between $218 and $237.36, after opening the day at $237.34. The company is lagging the S&P 500 which is down 0.54%.
LinkedIn, one of the biggest gainers of the year so far, was one of several Internet stocks falling on Tuesday, as investor worries over the current political uncertainty in Washington plagued the market.
Now in its eighth day, the government shutdown is a result of a deadlock among Congressional leaders to agree on a new budget. Investors are also concerned the government will default on its debt obligations if it fails to raise the debt ceiling by October 17.
"Many of the recent winners are breaking key levels," said 'Real Money' contributor James 'Rev Shark' DePorre in his analysis Tuesday. "It is very likely that many of these stocks will bounce back sharply at the first hint of some sort of Washington deal."
TheStreet Ratings team rates LinkedIn Corp as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LinkedIn Corp (LNKD) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its disappointing return on equity."