Hot stock to watch: Yelp must be one of the best performing stocks over the past month. Yelp (YELP) stock opened higher and moved higher, hit new highs over the recent month, and finally closed at $26.16 per share, representing a surge of 5.83%.
YELP stock price has risen for the third consecutive trading day; over the last month, the shares have climbed from around $15 to the current level along the way, with a cumulative increase of over 70%.
At the end of June, there were reports saying Apple’s upcoming iPhone Map application will integrate the consumer review site Yelp’s “sign” function, which allows users to send their location information to a friend.
Yelp went public on the NYSE on March 2, 2012, and raised $100 million; the company sold 7.15 million ordinary shares in its IPO at an issue price of $15. After the listing, YELP stock price experienced a round of roller coaster; first rose to $28, then dropped all the way to the lowest level of $14.1; then YELP stock price began to rise to the current level.
Yelp currently has a market cap of $1.60 billion.