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
- Frontrunning: March 24 | ZeroHedge
- How Solid are Canada’s Big Banks? | ZeroHedge
- Anti-Trump Propagandist David Brock Suffers Heart Attack | ZeroHedge
- Banks Scramble For Free ECB Money: €233.5 BIllion Allotted To 464 Banks In Final TLTRO Operation | ZeroHedge
- The Kagans Are Back; Wars To Follow | ZeroHedge
- A New Trend Emerges – Digital Gold "Gifting" Gains Popularity In China | ZeroHedge
- Dow Slides: Gasparino Says "No Deal" After Freedom Caucus Leaves White House | ZeroHedge
The most relevant financial news and articles from the Internets
- North Korea's nukes are nearing the 'point of no return... | Business Insider
- 13 women in their 20s and 30s reveal what they waste their money on | Business Insider
- Why Dave Chappelle says he made 2 new Netflix specials: 'Money... | Business Insider
- THE VOICE ASSISTANT LANDSCAPE REPORT: How artificially intelligent voice assistants are changing... | Business Insider
- This online course will help boost your productivity in under 3... | Business Insider
- How French tire company Michelin became... | Business Insider
- 'What in the hell are we doing': Biden questions Trump... | Business Insider