Yelp Shares Headed to $102?

Let’s talk about Yelp (NASDAQ:YELP).

Everyone knows the company, but like all the hot stocks of the last decade, most people who use it don't own it - and most have no clue the company is publicly traded.

This has been a tough summer from a public relations point of view. A whole lot of things went wrong for them.

I think management should do the right thing. They don’t necessarily have legal obligations to make certain changes, but I think they should be compelled to.

In the meantime, what really crushed them…64 insider sales for 5 million shares...

Let’s focus on the future though, because I think the next leg up on this thing, by the way it’s consolidating north of $80. That’s a really important thing from a technical point of view. The next leg up should take it to $120.

It’s extremely volatile. I like it for short-term traders, I love it for long term people. It’s an Internet information provider.

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