Early backers are still high on Yelp, the business review service. A surge in the stock, the biggest since its IPO, shows major shareholders are keeping their stakes. The first post-IPO selling window for insiders opened Wednesday, and there was no exodus. Fears there would be had driven down the stock recently. Yelp is up nearly 50 percent since its March IPO.
market mover
Yelp shares surge as insiders hold on to stock
richard drew/Associated Press/File 2012
Yelp’s market debut and subsequent trading have left CEO Jeremy Stoppelman (right) happier than his counterparts at Net companies like Facebook, Groupon, and Angie’s List.