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
- China's Great Wall Of Worry - Goldman Warns China Options Signal Caution Ahead | ZeroHedge
- THiS TiMeY DiFFeReNT... | ZeroHedge
- Clash, Mesh, Rattle... Thud | Financial Sense
- Reflections on the Past Three Days and the Fed’s Policy Problem | Financial Sense
- Deflationary Collapse Ahead? | ZeroHedge
- For Albert Edwards This Is The One Definitive Measure That "We Are Now In A Bear Market" | ZeroHedge
- Why Biden Would Be a TERRIBLE President | ZeroHedge
The most relevant financial news and articles from the Internets
- Nervous Fetty Wap greeted with cheers at hometown concert... | Business Insider
- Grieving station comes together for newscast after deaths... | Business Insider
- Japan inflation, household spending slow in July, incomes... | Business Insider
- New Orleans is trying to ensure that Katrina's devastation never happens... | Business Insider
- Here are the cold hard facts behind the fabulous Facebook hoax of a giant... | Business Insider
- 71% of top music executives think Jay Z's streaming service... | Business Insider
- Survey: General LOL most irked by grammar, spelling slips | Business Insider