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
- Recovery? 3 "Uncomfortable Truth" Charts | ZeroHedge
- What Is the Bond Market Telling Us? | Financial Sense
- Preemptive Move on Rates Still Unlikely | Financial Sense
- Markets Set To Surge On Global Manufacturing PMI Bloodbath | ZeroHedge
- Will Ukraine Retake the East From Separatists? | Financial Sense
- "Dawn Of Libya" Islamist Militia Group Seizes US Embassy In Tripoli, Holds Pool Party | ZeroHedge
- Ramp Up Your Weekly Market Preparation | iBankCoin.com
The most relevant financial news and articles from the Internets
- Should You Worry About That Mole? Here's How To Tell | Business Insider
- Some People Don't Get Bitten By Mosquitoes — Why That's True Will Surprise... | Business Insider
- Notable... | StreetInsider.com
- Six dead in Paris suburb building explosion | Business Insider
- Frustrating Boston Scientific Is Not What the Investor Ordered | TheStreet.com
- 17 Business Etiquette Rules Every Professional Needs To Know | Business Insider
- Notable Mergers and... | StreetInsider.com