They say there is no bubble in teck stocks, but when you see a company with "no earnings" going public at these prices, one has to second question the so called Wall Street salesman. Ben(subprime is contained) Bernanke is at the root of this kind of speculation with his cheap money policies. These things never seem to end well in the long run for most retail investors.
Yelp! IPO Soars 60% Despite Mixed Reviews
Yelp! (YELP), the San Francisco based business rating website is the latest "hot" internet company to go public and they came on the scene with a bang today. Shares screamed 60% higher soon after the company opened for trading this morning, which puts it in line for the hottest IPO debut since LinkedIn (LNKD) popped 109% on its first day last May (For the record, LinkedIn Shares today are about 7% below where the stock closed on its 1st day). Officially, Yelp! sold 7.1 million shares at $15 which was above the targeted $12-$14 range and valued the money losing venture at just under a billion dollars.