YELP - Why Yelp Stock Jumped Today
2023-05-23 11:52:51 ET
Shares of crowd-sourced review platform Yelp (NYSE: YELP) jumped on Tuesday after an activist investor publicly expressed its frustration with the company and demanded action. As of 10:30 a.m. ET, Yelp stock was up about 9%. Shares of Angi (NASDAQ: ANGI) were also up about 8%, and it relates to what's happening with Yelp.
TCS Capital owns 4% of Yelp and has been a shareholder for about five years. But it's been a bad investment. If you bought shares of Yelp five years ago today, you'd be down about 20% on your investment even after today's jump in price.
TCS Capital lays out a list of things that it believes are wrong with the stock. But it believes shares are undervalued and that management needs to do something about it. The activist investor suggests that Yelp stock could have more than 100% upside if the company sold to a private-equity firm.
For further details see:
Why Yelp Stock Jumped Today