Yelp Inc. (NYSE: YELP) may be up 63% around $24.50 in a strong IPO. What is even more impressive than the price gain is that the trading volume has been stellar. More than stellar…The deal was already at a premium of $15.00 at the pricing versus a price range of $12.00 to $14.00 per share as the last price range. The stock has not traded under $22.00 and at 11:20 AM EST we have seen 12.5 million shares trade hands. Today’s trading volume is already 150% of its total initial public offering share count even if you consider that the overallotment or greenshoe option from the underwriters was exercised. With a gain like this. obviously the option was exercised.
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