Yelp is crashing

Yelp shares tanked by more than 21% in trading on Thursday.

The plunge comes after the business ratings and reviews company reported a big miss on first quarter earnings after the closing bell on Wednesday.

Yelp posted a loss of 2 cents per share, missing expectations for a 1 cent loss, on revenue that totaled $US118.5 million, short of expectations for revenue of $US119.8 million.

The company also posted a disappointing outlook for full-year revenues, at $US574-$US579 million against expectations for $US579.2 million.

The stock fell to as low as $US40.14 a share on Thursday, a level last reached in July 2013. It’s now down 26% year-to-date, and 30% over the past 12 months.

Here’s a chart showing the plunge in trading:

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