A funny thing happened to Yelp’s stock last week: It stopped tanking and suddenly made a huge, unexplained comeback.
We noticed it on Friday and wrote a post about the stock rising 15% during the day. We had no idea why it was up. We might finally have an answer.
Yesterday Apple announced deeper ties to Yelp with Siri and with Apple’s new maps application. In Siri, the reviews and data look different. In maps, if you search for a restaurant Apple serves up Yelp results including ratings, reviews, and photos.
It sure looks like some investors caught wind of what was coming and got some Yelp at a discount last week.