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
- Driverless Cars Poised to Transform Automotive Industry | Financial Sense
- "I'm Not Stupid" Monsanto Lobbyist Refuses To Drink Weedkiller After Proclaiming "It Won't Hurt You" | ZeroHedge
- What Bond Investors Are Most Concerned About | ZeroHedge
- Santelli Stunned As Janet Yellen Admits "Cash Is Not A Store Of Value" | ZeroHedge
- You Have Been Forewarned | Financial Sense
- The American Dream Part 2 - We Now Live In A "Pimpocracy" | ZeroHedge
- The Monetary Approach Reigns Supreme | Financial Sense
The most relevant financial news and articles from the Internets
- The oil rig count is not important — yet (USO, OIL) | Business Insider
- Apple's Supply-Chain Secret? Hoard Lasers | BusinessWeek
- Meerkat vs. Periscope: There can be only one king... | Business Insider
- 15 stunning entries from Smithsonian Magazine's annual photo contest... | Business Insider
- 5 simple internet safety tips from one of Google's information... | Business Insider
- This animated map shows how European languages... | Business Insider
- Triumphant return for Tsonga | Business Insider