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 Much of Asia Is Thankful for the Upcoming iPhone Release | Financial Sense
- BofA Fined $12.5 Million For Creating At Least 15 Mini "Flash Crashes" | ZeroHedge
- Deutsche Curve Inverts As Bundesbank Dismisses State Support Of "Zombie" Banks | ZeroHedge
- Silver Is Getting Slammed But Bonds Best Post-Fed | ZeroHedge
- Nomura First Major Bank to Predict China Default; BIS Sounds Alarm | Financial Sense
- Fed Admits It Has No Clue | Financial Sense
- 2029 Financial Collapse: Lionel Shriver’s Dystopian Outlook on the US | Financial Sense
The most relevant financial news and articles from the Internets
- Secret passages and skipped meals: Oracle's CEO gave us a rare peek... | Business Insider
- The moment one of the most powerful women in banking noticed... | Business Insider
- One of the original 'power posing' researchers now says its effects... | Business Insider
- Some Americans have already voted before the first debate | Business Insider
- How Clinton and Trump compare on the... | Business Insider
- Mike Pence disagrees with Trump: 'There's no... | Business Insider
- This is the single most important gadget to bring with you when you’re... | Business Insider