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Surprise! Yelp Shares Soar On Lock-Up Expiration Day

The stock market operates in mysterious ways. Yelp shares are actually trading sharply higher this morning, despite the expiration of the company's post-IPO lock-up period. As I noted earlier, the stock had lost about a third of its value in anticipation of today's event; for reasons that are not entirely clear, the stock has responded to the news with a major rally.

 

Yelp shares soar on market debut

Yelp IPO

Consumer review website Yelp Inc's shares traded more than 60 percent above their initial public offering price in their market debut on Friday, as investors rushed to buy a piece of the growing local advertising market... Yelp's shares were trading up 62 percent at $24.60 on Friday morning. At that level, the company is valued at about $1.43 billion -- about 17 times its 2011 revenue.

 

Yelp Set For A Pop, But Will It Fizzle?

Yelp

It's likely that investors will see a first-day rise in Yelp's shares during its IPO this week, but the ability of the online review site to hold on to those debut gains is debatable.

 

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