Why Yelp Stock Spiked
This was supposed to be the day that Yelp (YELP) shares took a dive, as early investors were unshackled from lockup provisions attached to the local business review site’s March IPO. So why on earth is the stock up nearly 19% as of this writing?
In short: Most of the big insiders didn’t sell. Fortune has learned that venture capital backers like Bessemer Venture Partners, Benchmark Capital, DAG Ventures and Elevation Partners opted to neither sell nor distribute any Yelp shares today, despite having the opportunity to do so.
Read More: CNN