Buying the Yelp IPO

I couldn’t resist buying Yelp in the aftermarket! It was priced at $15 and opened up at $24-a very nice pop for those who got an initial allocation. I watched the stock trade for a bit and then went in and bought some at $24 and sold it at $25.

So for the hour or so that I held it a profit of nearly a $1000 was made. Nothing to brag about but It’s kinda fun to play in the after market of certain IPO issues. Would I be a long term investor? No, the company has yet to make a profit and the competition is getting more brutal on a daily basis!

What about you-did you get any Yelp on the original IPO offering or did you buy in the secondary?

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Dansette