Google Maps reviews are now a significant competitor to Yelp -- they even advertised extensively on YouTube over the last year. Google Maps has far greater coverage outside of major metro areas and Internationally. Thumbtack is another well-funded competitor with a focus on the services business that provides most of Yelp's revenue.
It seems like the reopening benefit has been priced into the stock and now the market is realizing it will take a while for Yelp to grow revenue back to where it was in 2019. Meanwhile, the stock is higher than it was in 2019. A drop back down to the low 30s seems likely after today's breakdown.
It seems like the reopening benefit has been priced into the stock and now the market is realizing it will take a while for Yelp to grow revenue back to where it was in 2019. Meanwhile, the stock is higher than it was in 2019. A drop back down to the low 30s seems likely after today's breakdown.