Yelp Inc. (NYSE: YELP) has only seen eight trading sessions since its initial public offering back on March 2, 2012. Just last week it was trading as though the premium offering was going to go under $20.00 and burn so many of the post-IPO investors who chased the stock who were not able to allocated shares in the offering. Well, now it has stock options which trade and somehow the stock has come rifling back higher. It feels a bit like a mystery. Monday’s gain was well over 10% higher to $22.48 from $19.80 on Friday. So, what exactly are investors supposed to think about seeing another 6.6% gain on Tuesday and seeing the stock back at $24.00. After eight sessions, there is no quiet period ending, there is no lock-up extension, and there is not really any big news that will generally come out of a newly public company this quick.
Maybe it was that at $20.00 it just was not quite an expensive stock? Post-IPO trading can often shake out investors and can often be a bit odd to see, but a 20% move between the seventh and eighth trading days is not exactly par for the course.
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