Yahoo's Stock Price Continues to Plummet

From DailyTech: It seems that Yahoo thought its stock had hit rock bottom in June of 2008 when it was trading at $23.52 per share. This price was reached after Microsoft walked away from its talk with Yahoo of a buyout.

CNET News reports that Yahoo's stock has now dropped to a new 52-week low with the stock trading Thursday morning at $17.81 per share. The low stock price makes Microsoft's offer of $31 per share for Yahoo stock in February 2008 seem like a gift of the biggest kind.

With Microsoft totally out of the picture and enjoying its "independence", Wall Street is wondering if there is anything in the future that could pull Yahoo's stock out of the current nose dive. Yahoo has the controversial deal with Google pending approval with antitrust regulators, but Wall Street expects the deal to go through unfettered.

Mark May, an analyst for Needham & Co told CNET News, "A DOJ approval would be mildly positive for the stock. It has a greater than 50 percent chance of being approved, so it's already baked into the current stock price."

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