Yelp rallying on Wall Street on TCS Capital Management proposal

Yelp rallying on Wall Street on TCS Capital Management proposal

(Finance) – Overbearing rise for Yelpwhich shows a searing climb of 6.21% on previous values.

Assisting the stocks is the news that TCS Capital Management, an activist investor who has a stake of more than 4% in Yelp, a US crowdsourced restaurant review company, has sent a letter to Yelp’s board of directors asking that it be explored a company sale or merger with online services company Angi.

Comparatively on a weekly basis, the trend of Yelp shows a more marked trend than the trendline of theS&P-500. This demonstrates the greater propensity of investors to buy towards Yelp compared to the index.

The short-term technical framework of Yelp shows an upward acceleration of the curve with a target identified at 36.08 USD. Risk of a fall to 33.69 which will not affect the good health of the current trend but which represents a temporary correction. Expectations are for an extension of the uptrendline towards 38.47.

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