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
- Japanese Bloodbath After BoJ Disappoints - Nikkei Drops 1000 Points, USDJPY Crashes | ZeroHedge
- Oil Suddenly Tumbles | ZeroHedge
- Atlanta Fed Unveils First Q2 GDP Forecast, Sees 1.8% Growth, 0.5% Below Wall Street Consensus | ZeroHedge
- Global Stocks Plunge After Bank Of Japan "Shock" | ZeroHedge
- "Carnage" - Dan Loeb Explains Why This Has Been A "Catastrophic" Time or Hedge Funds | ZeroHedge
- The Fed Just Found Its Next Excuse Not To Hike Rates | ZeroHedge
- Why The US Output Gap Means The 10 Year Is Going Below 1% | ZeroHedge
The most relevant financial news and articles from the Internets
- Here's a super quick guide to what traders are talking about right now (SPY, SPX, DJI, IXIC,... | Business Insider
- Japan has dozens of underground robotic parking garages... | Business Insider
- Billionaire investor Chris Sacca told an amazing story about how obsessed Kobe Bryant... | Business Insider
- This company wants to sequence your DNA and tell you your risk for 8... | Business Insider
- Facebook's lead HR consultant explains how the company... | Business Insider
- Democratic senator goes off on epic tweetstorm about 'Mean and Meaner... | Business Insider
- Ten Things Only Bad Managers Say | BusinessWeek