Yelp shares surge as insiders hold on to stock

Aug 29, 2012

(AP)—Yelp's stock is passing one of its biggest stress tests since the online business review service went public nearly six months ago.

Shares are up nearly 18 percent to $21.46 during Wednesday afternoon's trading, signaling that the company's early backers have decided to hold on to their stock instead of selling at the first opportunity.

The first selling window for Inc.'s insiders opened with Wednesday's expiration of a ban requiring them to hold on to their stock for 180 days after the company completed its in early March.

The end of other post-IPO "lock-up" agreements led stocks of Internet companies Facebook Inc. and Angie's List Inc. to plummet earlier this month as some insiders bailed out of the companies and flooded the market with more shares.

Explore further: GoDaddy revs up tech sector with Wall Street offering

0 shares

Related Stories

Zynga insiders price new stock offering at $12

Mar 29, 2012

(AP) -- Online games company Zynga Inc. said Wednesday that CEO Mark Pincus and other insiders will sell some of their stake at $12 a share, slightly below Wednesday's closing price.

Zynga founder, other insiders to sell 43M shares

Mar 23, 2012

(AP) -- Zynga's CEO and other insiders at the online games company plan to sell 43 million shares of stock in a public offering that will boost the amount of stock available for general trading by 35 percent.

Zynga holders plan to sell up to $400M in stock

Mar 14, 2012

Zynga shareholders may sell up to $400 million of stock through a public offering, three months after the online game maker went public, to try to avoid a drop in its stock price.

Millions more Facebook shares coming soon

Jun 04, 2012

Facebook already unleashed millions of shares to wary investors. Now the technology giant's early investors are about to see if they can force-feed millions more.

Recommended for you

FTC's Google investigation probed by Senate antitrust chief

5 hours ago

The chairman of a U.S. Senate antitrust panel will look into the release of a confidential Federal Trade Commission report on an investigation of Google Inc.'s search business, which was closed in 2013 without an enforcement ...

Traffic court goes digital: Startup fosters settlements

6 hours ago

Traffic court is going digital. Michigan startup Court Innovations has developed a software solution that allows drivers to settle traffic violations by negotiating in a virtual environment instead of showing up to court ...

Amazon puts home staples on refill button

6 hours ago

Amazon moved Tuesday to become an errand service for home staples, introducing a "dash button" to allow consumers to instantly order popular products for home and kitchen.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.