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
- Is the US Workforce Nearing Full Recovery? | Financial Sense
- New Poll Suggests Trump Would Now Win Popular Vote | ZeroHedge
- Bill Maher Lashes Out At Cal Berkeley's "F**king Babies" | ZeroHedge
- How Did NY Gov. Cuomo Make $783,000 From A Book That Sold Only 3,200 Copies? | ZeroHedge
- Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low | ZeroHedge
- Which Country Is America’s Biggest Enemy? | ZeroHedge
- Where There's Smoke... | ZeroHedge
The most relevant financial news and articles from the Internets
- Finally, someone made a work-appropriate backpack that makes sense for... | Business Insider
- I finally tried the slipper I've been seeing ads for all over Facebook, and I loved... | Business Insider
- 'Nobody has a sense of humor anymore':... | Business Insider
- This should be your next external hard drive — here's why | Business Insider
- Trump releases statement on Earth Day as his administration continues repealing... | Business Insider
- This New York college has a 100% job placement rate and charges zero tuition... | Business Insider
- 15 things both Trump and Obama wanted to trim from the federal government... | Business Insider