Yahoo Under $16, Breaks Five Year Lows (YHOO)
October 2, 2008 by Douglas A. McIntyre
Yahoo! Inc. (NASDAQ: YHOO) is probably wishing it could go back in time and take that $30+ buyout from Microsoft. Shares closed today at $15.58. That is a 52-week low and a 5-year low. You have to go back to Summer of 2003 to find lower prices. It has steadily given up ground on the search market and the benefits of the new Google deal remain elusive to most. Wall Street hasn’t seen what the benefits will be from that yet, and that was mainly a follow-on attempt of Jerry Yang to keep Microsoft away. This is a very dangerous time for the company. Sure, the market tanked and tech stocks and media stocks are under pressure. But pressure will start to mount again if things don’t get better. And management with its back up against the wall frequently makes decisions are not the best for shareholders.
Stay tuned.
Jon C. Ogg
October 2, 2008
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