Shares of Yelp popped nearly 3 percent Tuesday after a fund managed by famed investor David Einhorn announced a stake in the company. But natural gas companies failed to get the same Einhorn bounce, trading mixed Tuesday morning.
Einhorn wrote a first-quarter letter to investors explaining a new long "macro" position in natural gas. In the letter seen by CNBC, Einhorn also revealed he has exited Greek banks at "an almost complete loss" but has made a bullish bet on Yelp, the business review site.
Shares of Yelp traded as high as $22.67 a share Tuesday, closing at $22.51. But natural gas company Chesapeake traded down almost 12 percent, and Southwestern Energy dropped nearly 7 percent, while Williams Companies' shares were up 3 percent.