Yelp Shares Up 30% This Week... But Nobody's Sure Why
If you’ve been following some of the recent social media and Internet IPOs, you know that while most of them have been having a good run in the last few months, things weren’t rosy through 2011. Stocks like Groupon and Pandora were not able to maintain upwards trajectories, while stocks like Zynga actually spent a lot of time underneath their IPO price. LinkedIn stood out as having doubled its IPO price, but even they dropped from their high of $110 to around $90.
So with all that, people are wondering why Yelp, which has spent a lot of time hovering in the mid twenties after a reasonably successful IPO, has rocketed this week by 30% over a few days to $30 a share.
There are lots of theories that are abounding throughout the web.
A prominent one is the Facebook effect – experts theorize that in the lead up to Facebook’s IPO, investors...
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in