Investors Yip Ahead of Yelp (YELP) Lock-Up Expiration
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According to trusty resource Dictionary.com, a yelp means "...to utter a sharp or high-pitched cry or bark, often indicating pain." Come Wednesday, no other name for a company might've been so well chosen.
Market data has the 180-day post-IPO lock-up for early Yelp (NYSE: YELP) investors expiring, freeing up about 52.7 million shares. During its March 2012 IPO, Yelp only unloaded 7.15 million shares.
Given the recent turmoil surrounding expiration on peer Facebook's (Nasdaq: FB) lock-up provisions, its no wonder investors are a little on edge.
Investors will watch for sales by Chairman Max Levchin and Chief Executive Jeremy Stoppelma, among other insiders.
What Yelp has going for it is consistency in a rather pressured environment. Since opening at $22 on March 2nd, shares are down only 13 percent. That compares with a 55 percent dip at Facebook, 76 percent over the last six-months for Zynga (Nasdaq: ZNGA), and 77 percent for daily-deals purveyor Groupon (Nasdaq: GRPN).
In late trading, Yelp is off 0.8 percent.
Market data has the 180-day post-IPO lock-up for early Yelp (NYSE: YELP) investors expiring, freeing up about 52.7 million shares. During its March 2012 IPO, Yelp only unloaded 7.15 million shares.
Given the recent turmoil surrounding expiration on peer Facebook's (Nasdaq: FB) lock-up provisions, its no wonder investors are a little on edge.
Investors will watch for sales by Chairman Max Levchin and Chief Executive Jeremy Stoppelma, among other insiders.
What Yelp has going for it is consistency in a rather pressured environment. Since opening at $22 on March 2nd, shares are down only 13 percent. That compares with a 55 percent dip at Facebook, 76 percent over the last six-months for Zynga (Nasdaq: ZNGA), and 77 percent for daily-deals purveyor Groupon (Nasdaq: GRPN).
In late trading, Yelp is off 0.8 percent.
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