- Yelp (YELP +14.3%) is now up 40% since beating Q2 estimates, issuing strong guidance, and catching 3 upgrades. Short-covering is almost certainly a major factor.
- Jim Cramer, surveying the huge upward moves posted by Yelp, Trulia, Zillow, and LinkedIn over the last 2 days: "If you take away the shorts, all of these stocks will be lower. That said, they have been caught up in the cult of the Web right now, and until more supply is issued, they remain better to the long side."