Why Yelp Stock Tanked Today

Why Yelp Stock Tanked Today

Shares of Yelp (NYSE: YELP) have tanked today, down by 14% as of 12:20 p.m. EDT, after the company reported second-quarter earnings. The results topped expectations, but the local business review site continues to feel the impact of the COVID-19 pandemic. The tech company, which relies primarily on advertising revenue from small local businesses, finished the quarter with $526 million in cash.