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
- Why The Market Kept Breaking Yesterday | ZeroHedge
- Putin Warns Of Risk Of Major Conflict, Says Dollar Losing Reserve Currency Status | ZeroHedge
- I AM AN OIL MAN OF MAGNANIMOUS PROPORTIONS | iBankCoin.com
- Initial Jobless Claims Rise Most In 3 Months, 4-Week Average Lowest Since 2000 | ZeroHedge
- Ebola Fears Take Shine Off Panic-Buying Surge In Stocks | ZeroHedge
- Ready to Take Some Lumps, if Need Be | iBankCoin.com
- Oil Prices Continue to Define Geopolitics | Financial Sense
The most relevant financial news and articles from the Internets
- REPORT: 25 Banks Are About To Fail Europe's Biggest Ever... | Business Insider
- Lego Is for Girls | BusinessWeek
- The Genius Behind The Apple Store Wants To Help You... | Business Insider
- Twitter Needs to Show Mass Appeal to Really Win Over Wall Street | TheStreet.com
- HOUSE OF THE DAY: Go Inside Jennifer Lawrence's New $8 Million Beverly Hills... | Business Insider
- BoE Deputy Governor: Stop Blaming Central Bankers For Your Problems | Business Insider
- Canada shooter planned to go to Syria: police | Business Insider