Yelp Inc. plunged the most since its initial public offering three years ago, losing one-quarter of its value, a day after the customer-review website cut its revenue forecast, said it will stop selling national brand advertising and announced Max Levchin’s departure as chairman.
Shares of the San Francisco-based company fell 25 percent to $25.06 at the close in New York, the biggest single-day decline since Yelp’s IPO in March 2012. The shares dropped to their lowest price in more than two years. At least five analysts, including those from Oppenheimer & Co. and Raymond James, reduced their ratings.
