Yelp's stock surges on activist's call for sale exploration.
Activist investor TCS Capital Management has written a letter to Yelp's board of directors, calling for immediate action, including a potential sale, to be taken to address the company's "abysmal performance". TCS Capital CEO Eric Semler believes Yelp is "shockingly undervalued" and could be sold for at least $70 per share. Semler also suggests Yelp combine with Angie's List to form a powerhouse in the $500 billion home services market. Yelp shares jumped over 6% on the news.