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
- With Italy's Bank Stress Test "A Near-Term Risk", Who Is Most Exposed? | ZeroHedge
- Mystery Over Munich Shooter's Motive: David Ali Sonboly Had "No Connection To ISIS", Obssessed With Mass Shootings | ZeroHedge
- Leaked DNC Emails Confirm Democrats Rigged Primary, Reveal Extensive Media Collusion | ZeroHedge
- A Collision-Course With Crisis: Making The Wrong Choices For The Wrong Reasons | ZeroHedge
- July 26-27 – The Fed Will Put Us on Notice for a September 20-21 Rate Hike | Financial Sense
- Celebrating 45 Years Of Phony Money | ZeroHedge
- "If You Can't Touch It, You Don't Own It" | ZeroHedge
The most relevant financial news and articles from the Internets
- Ivanka Trump describes her life as the daughter of a potential... | Business Insider
- Olympic leaders rule against banning entire Russia team | Business Insider
- The $6 trillion opportunity in the IoT | Business Insider
- 17 photos from around the world that show 'Pokémon GO' is a global phenomenon | Business Insider
- Putin is a big winner of the failed coup in Turkey | Business Insider
- 11 things that will make you sound dumb in a job interview | Business Insider
- I went to a "float therapy" studio — and now I'm... | Business Insider