Yelp Surges as Investors See Bargain Buying Opportunity
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Yelp Inc. shares surged the most in six months Friday as investors see the customer-review website at bargain prices after it lost almost half of its value this year.
Shares jumped 11 percent to close at $31.21 in New York, the biggest increase since May 7 and the highest price since July 28. Yelp shares plummeted July 29 after the company cut its revenue forecast and said it would stop selling national brand advertising. The stock is down 43 percent this year.