(Yahoo Finance) David Einhorn, The closely-followed hedge fund manager and founder of Greenlight Capital disclosed a new position in Yelp’s stock, and the shares are already trading higher. “We purchased Yelp (YELP) at an average price of $21.16. YELP is a dominant search and review website for local businesses with roughly 200 million unique monthly visitors and the 21st most popular mobile app in the U.S. The stock has suffered due to missed expectations and anxiety about an upcoming negative documentary,” Einhorn wrote in an investor letter dated May 2 obtained Yahoo Finance.
Hedge Fund manager David Einhorn reveals a bet on a ‘five star’ stock
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