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
- New Gold Rush? 10 Ounces Of "Historic Nuggets" Stolen From San Francisco Museum | ZeroHedge
- The History Of Global Crises Through The Eyes Of The US Dollar | ZeroHedge
- Signs That The Economy Is Weakening | ZeroHedge
- What Would You Do? | ZeroHedge
- Alexis Tsipras' Open Letter To Germany: What You Were Never Told About Greece | ZeroHedge
- The New Venezuelan Entrepreneur: Making A living Lining-Up For Toilet Paper | ZeroHedge
- Apple Boosts Earnings Picture Though Overall Trend Still Negative | Financial Sense
The most relevant financial news and articles from the Internets
- JAWBONE: These Are The Habits That Affect Weight Loss The Most | Business Insider
- Fired-up Serena to face teen Keys in Aussie semi | Business Insider
- Here's Everything Leaving Netflix In February | Business Insider
- Russia's Gazprom profits slide 61 percent in third... | Business Insider
- Facebook beats forecasts with strong profit gains | Business Insider
- US civil rights activists cleared -- 50 years on | Business Insider
- Murray downs Berdych to reach Australian Open final | Business Insider