Yelp had an excellent first day as a publicly traded company. It opened on the New York Stock Exchange Friday at $22.01 per unit — up 47 percent from its IPO price of $15. By the end of the day, shares were trading at $24.58. The first-hour pop was surprising, even for enthusiastic advocates of the stock, said Lee Simmons, IPO industry specialist at Dun & Bradstreet. All in all, the first day “was a very positive performance,” he said. However, whether Yelp can sustain that performance is uncertain. “The price could well flatten out.”
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Yelp's Howling-Good First Day
Posted by: Erika Morphy March 5, 2012 05:00 AMYelp had an excellent first day as a publicly traded company. It opened on the New York Stock Exchange Friday at $22.01 per unit — up 47 percent from its IPO price of $15. By the end of the day, shares were trading at $24.58. The first-hour pop was surprising, even for enthusiastic advocates of the stock, said Lee Simmons, IPO industry specialist at Dun & Bradstreet. All in all, the first day “was a very positive performance,” he said. However, whether Yelp can sustain that performance is uncertain. “The price could well flatten out.”