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Surprise! Yelp Shares Soar On Lock-Up Expiration Day

The stock market operates in mysterious ways. Yelp shares are actually trading sharply higher this morning, despite the expiration of the company's post-IPO lock-up period. As I noted earlier, the stock had lost about a third of its value in anticipation of today's event; for reasons that are not entirely clear, the stock has responded to the news with a major rally.

 

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