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Careful calculations of a company's value and of demand among big investors for an IPO are important, but broader investor sentiment is more unpredictable, especially when the company has a name as familiar as LinkedIn or Facebook.
WSJ: The Art of the IPO
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Dr. KARL CASE (Wellesley College): What really determines the long-term mortgage rate is some combination of inflationary expectations, international demand, the value of the dollar.
NPR: Rate Cut Benefits Consumers Some, Investors More
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For of course the value of anything is determined by the balance of supply and demand for it.
FORBES: So, That's the End of Bitcoin Then