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
- The "Cashless Economy" Is A Myth | ZeroHedge
- Piraeus Bank Denies Rumor It Has Run Out Of Cash | ZeroHedge
- Gold: The Good, Bad, and Truly Ugly | ZeroHedge
- Why Deflation–and Not Inflation–Is the Main Concern Right Now | Financial Sense
- The Pathetic 'Talk Therapy' Of Janet Yellen | ZeroHedge
- 3 Things - High Yield Warning, Yellen's Employment & Economy | ZeroHedge
- "Faith In Fed Abilities" Are Too Firmly Embedded In The Investor Class | ZeroHedge
The most relevant financial news and articles from the Internets
- One dead in Cairo bomb blasts: health ministry | Business Insider
- The US caught two members of Iran... | Business Insider
- Jony Ive and Elon Musk were 'inseparable' at... | Business Insider
- The UK is sitting on a savings time-bomb | Business Insider
- For one week, employees at this cyber security company get to play the bad guys (SYMC) | Business Insider
- S. Africa family reunited with child snatched in 1997 | Business Insider
- The two big lessons Ginni Rometty learned from IBM's recent struggles (IBM) | Business Insider