It was fun while it lasted, we suppose. Yahoo has sank to its lowest stock price since Microsoft Corp.’s unsuccessful takeover offer seven months ago, in an apparent market-wide advertising slump, according to Bloomberg.
“What is different between now and when the first bid happened is the environment has gotten a lot worse,” said Sanford C. Bernstein & Co. analyst Jeff Lindsay, who expects the shares to perform in line with the market, in the report. “The immediate way forward and upwards is unclear.”
The latest numbers put even more pressure on Yahoo CEO Jerry Yang to do something to turn the company around, now that the stock has lost every bit of the value it had gained in light of the $44.6 billion takeover bid from Microsoft.