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
- Goldman's Meteoronomists Have A Dire Forecast: "Winter Is Coming" | ZeroHedge
- Meet Captagon: The Drug Of Choice For Today's Anxious Jihadist | ZeroHedge
- Can The Oil Industry Really Handle This Much Debt? | ZeroHedge
- US Corporate Earnings, Overseas Sales and the Dollar | Financial Sense
- European HIV Infections Hit Record High, CDC Blames "Migrants And Refugees" | ZeroHedge
- The Videos Are In: US Shoppers Go Wild, Beat Each Other Up To Celebrate Black Friday Sales | ZeroHedge
- How Turkey Exports ISIS Oil To The World: The Scientific Evidence | ZeroHedge
The most relevant financial news and articles from the Internets
- Police officer shot, killed during call; suspect arrested | Business Insider
- 9 emails that show Hillary Clinton struggles with tech... | Business Insider
- Watson's 4 TDs lead No. 1 Clemson to 37-32 victory | Business Insider
- Long wait times plague Social Security disability process... | Business Insider
- What Steve Jobs, Elon Musk, and 10 other successful people were doing... | Business Insider
- Meet 27-year-old Alicia Vikander, star of 'The Danish Girl,' on her way... | Business Insider
- Turkey says pilot's body to be flown back to Russia | Business Insider