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Could This Movie Trailer Really Be Bringing Down Yelp's Stock?

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Could This Movie Trailer Really Be Bringing Down Yelp's Stock?
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Yelp Inc (NYSE: YELP) shares plummeted on Thursday morning. This appeared to be a technical move, but a new Kickstarter campaign may hold the real news.

A press release came out late Wednesday afternoon for "Billion Dollar Bully," a film whose Kickstarter page describes it as "An offer they can't refuse: A documentary on marketing giant Yelp's $3.6 billion racket against small business owners."

A two-minute trailer is on the page, which includes clips of why people use the service, but then turns to Yelp's "filtered" reviews.

Yelp is a website and mobile app that allows people to review a bar or restaurant.

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"The allegations against Yelp has to do with extortion. Every one of the clients had been threatened with harm if they didn't pay money," attorney Lawrence Murphy says in the trailer. Various business owners claim that if they didn't pay for Yelp services, their business would get more negative reviews.

The campaign says "with 50% of our project filmed, we need to raise money to finish production and take this through post production."

Shares of Yelp recently traded at $44.88, down more than 4 percent on the day.
Image credit: Nan Palmero, Flickr

Posted-In: Billion Dollar Bully KickstarterRumors Movers Best of Benzinga

 

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