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
- WTI Crude Surges Back Above $49 After OPEC Comments | ZeroHedge
- ECB Will Again "Frontload" Bond Purchases Ahead Of The Winter, No Advance Leak To Hedge Funds This Time | ZeroHedge
- NATO Threatens To Send In Troops After Russia Stations Ground "Battalion" In Syria | ZeroHedge
- Presenting SocGen's "China Syndrome": "The Vicious Cycle Of Lower Demand, Prices And Commodity Currencies" | ZeroHedge
- The Real Reason For The Refugee Crisis You Won't Hear About In The Media | ZeroHedge
- The Derivatives Market: Bets, Bookies, and Fraud | ZeroHedge
- As A Shocking $100 Billion In Glencore Debt Emerges, The Next Lehman Has Arrived | ZeroHedge
The most relevant financial news and articles from the Internets
- Ocean City, Md.: America's Most Affordable Fun City | BusinessWeek
- 'Star Wars' characters have never looked more gorgeous... | Business Insider
- High-tech firm's plans to make drones in NY spark... | Business Insider
- Britain urges EU to speed migrant deportation | Business Insider
- A veggie cheeseburger startup that Google tried to buy just raised $108 million (... | Business Insider
- MSF seeks fact-finding mission over deadly Kunduz strike | Business Insider
- Regional bloc: South Sudan factions violated truce 53... | Business Insider