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
- Machete-Wielding Syrian Refugee Kills Pregnant Woman; Injures Two In Southern German City | ZeroHedge
- What investors need to know about USAs FOREX rules | ZeroHedge
- "End of the Game" Near as Corporate Defaults Surge Across the Globe, Says Expert | Financial Sense
- Blue Lives Matter: Is Police Exceptionalism Leading America Toward Second Civil War? | ZeroHedge
- The Real Message From Asset Inflation | ZeroHedge
- THE SUBPRIME U.S. ECONOMY: Disintegrating Due To Subprime Auto, Housing, Bond & Energy Debt | ZeroHedge
- Hillary Clinton Picks Tim Kaine For Vice President | ZeroHedge
The most relevant financial news and articles from the Internets
- The Native Ad Report: Revenue forecasts and top drivers | Business Insider
- Victoria's Secret is ignoring a massive shift in the lingerie industry, and it... | Business Insider
- Ken Griffey Jr. and Mike Piazza inducted into Hall of Fame | Business Insider
- Guys, your search for the perfect T-shirt is over | Business Insider
- A common belief about working out might be bogus — and it's good news for anyone trying to tone... | Business Insider
- Morgan Stanley thinks everyone else is too bullish on the world | Business Insider
- The US reportedly helped Brazil track down and... | Business Insider