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
- The Fuse on the Global Debt Bomb Has Been Lit | ZeroHedge
- Crude Crashes To $56 Handle - 10-Week Lows | ZeroHedge
- Desperate Greeks Resort To Scavenging Through Garbage To Find Food | ZeroHedge
- Jim Bianco Rages "The Recovery Ship Sailed", Bashes Big Govt Believers, Slams Greek Risk 'Deniers' | ZeroHedge
- Weekly Look At Things | iBankCoin.com
- Why Buffett Bet A Billion On Solar | Financial Sense
- China's "E*trade Babies" Wiped Out In Market Crash | ZeroHedge
The most relevant financial news and articles from the Internets
- Bill Gross is worried about bond market liquidity (JNS) | Business Insider
- The 10 most important things in the world right now | Business Insider
- A bunch of Barclays brokers jumped ship last month for Merrill Lynch | Business Insider
- This strange, glowing fish is more abundant than rats,... | Business Insider
- Putin had an abysmal record in Russia’s second-largest city — here... | Business Insider
- Calvin Klein just bought this masterpiece contemporary mansion for... | Business Insider
- UN watchdog chief to Iran as nuclear talks extended | Business Insider