LNKD has collapsed 27% on the back of missed revenues and lowered outlooks for Q2 and 2015 drastically. What is most dramatic - just as was seen with YELP and TWTR is the velocity of repricing which indicates just how far expectations for growth in the tech sector are from reality... and strongly suggests all is not well as El-Erian's "wedge" between markets and fundamentals snaps shut...

Just totally ugly:

• *LINKEDIN SEES 2Q REV. $670M-$675M, EST. $718.3M
• *LINKEDIN SEES 2Q ADJ. EBITDA ABOUT $120M, EST. $197.1M
• *LINKEDIN SEES 2Q ADJ. EPS ABOUT 28C, EST. 74C
• *LINKEDIN SEES 2015 ADJ. EBITDA ABOUT $630M, EST. $815.9M REV.
• *LINKEDIN SEES 2015 ADJ. EPS ABOUT $1.90, EST. $3.03

The result...

Which means LNKD has done nothing for over 2 years...

and the latest exuberance is all as margin debt soars.

Charts: Bloomberg