Yahoo (YHOO) closed lower at $27.36 (decline of 4.4% from Friday’s closing price) for the second consecutive day post the announcement of 40 million shares buy back. After the deal, three Board of Directors from Yahoo resigned from the board including the chief, Daniel Loeb. Analysts opine that Yahoo shares are only valuable because of its holding company, Alibaba.
Source: Yahoo stock chart by Amigobulls
Other Stock Market Updates
Read our news letter here- Amigobulls Stock Market Updates July 24, 2013