Yelp Inc up 22% since May 15th
Yelp is putting the "!" back where it counts. Yelp! or Yelp Inc. (YELP) shares are up 22% since in less than 2 weeks. Just when web 2.0 heavily shorted stocks were the death of investors portfolios, Yelp is making a come back.
The chart clearly shows that Yelp is on the up and up. It appears to be a short squeeze that is working for traders now going long.
This San Francisco-based company saw its short interest surge more than 31 percent in the first weeks of May to more than 9.27 million shares, which represents more than 15 percent of the float. The number of shares sold short has been rising since mid-March. The days to cover remained about one
The 22% increase is a wake-up call to the short sellers. The stock continues to rally today up 5%.
Bottom line: Yelp appears to be on the mend but it still remains a volatile trade. If enough short interest exits the stock will continue to climb.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- STTG Market Recap Jan 30, 2015 | FundMyMutualFund
- Top 10 Wall Street Rookie Mistakes | ZeroHedge
- How "Unequal" Is Your State? | ZeroHedge
- The German 10 Year Bund Effectively a Call Option at 30 Basis Points | ZeroHedge
- The Fed - Lucky or Smart? | Financial Sense
- The Raging “Currency Wars” Across Europe | Financial Sense
- The Official White House Terrorist Identification Chart | ZeroHedge
The most relevant financial news and articles from the Internets
- A Jetblue Airbus jet nearly collided... | Business Insider
- Here's how 'Birdman' shot that crazy scene of Michael Keaton running... | Business Insider
- PSG edge Rennes to close gap on Lyon | Business Insider
- Notorious file-sharing site The... | Business Insider
- STOCKS TUMBLE, OIL SPIKES, SHAKE SHACK GOES NUTS: Here's what you need to know (DIA, SPY,... | Business Insider
- How IBM is bringing front-office data analysis to Super Bowl fans | Business Insider
- Morgan Stanley thinks Russia's doomed | Business Insider