- On a rough day for Internet momentum stocks, Yelp (YELP -7.6%) is the biggest decliner. A Topeka note raising concerns about Facebook's efforts to encroach on Yelp's turf could be playing a role.
- Worries about competition from Facebook are nothing new for Yelp; shares fell hard earlier in January after Facebook showed off Graph Search, and more moderately the prior month after Facebook updated its Nearby feature to provide a list of local businesses a user might be interested in.
- But Yelp's local reviews leadership, and the network effect stemming from it, have helped keep Facebook (and Google) from doing serious damage thus far.
Yelp tumbles, Topeka worried about competition from Facebook
Nov 25 2013, 12:52 ET