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
- Pro-Brexit Leader Jokes "Keep Sending Obama Over" After Surge In Polls | ZeroHedge
- GoLDMaN TRuMP... | ZeroHedge
- Trumped! Why It Happened And What Comes Next, Part 2 - The Peace Deal | ZeroHedge
- Will Turkey Become An "Islamic State"? | ZeroHedge
- Since 2014 The US Has Added 450,000 Waiters And Bartenders, And No Manufacturing Workers | ZeroHedge
- Everyone Is Selling: Largest Outflow From Stock Funds Since September 2015 | ZeroHedge
- More Lukewarm Econ Data to Match Q1 Earnings | Financial Sense
The most relevant financial news and articles from the Internets
- Lululemon took down a cheeky sign after a mother was easily offended | Business Insider
- A small Spanish town on the verge of bankruptcy was saved by 'Game of Thrones... | Business Insider
- John Kasich is dropping out | Business Insider
- The 10 things in advertising you need to know today (YHOO, TWTR, GOOG) | Business Insider
- This bar in Tokyo has 'robot cabaret' | Business Insider
- Median family income is lower than it was in 2000 | Business Insider
- A hidden hostel in Rio's slums is the best... | Business Insider