Taking the "Yahoo" Out of "Yahoo Shareholder Activist"
No surprise here. Yahoo shareholder dissatisfaction is following a trend line inverse to the company’s plummeting share price. In fact, the price has dipped so low that Ironfire Capital founder Eric Jackson–the Yahoo shareholder activist who agitated for change at the company and the creator of the Yahoo! Plan B investor community–has dumped his Yahoo shares.
“I sold my YHOO stake, which I held through my hedge fund last month when it hit $20,” Jackson told Digital Daily. “I still own a small amount personally. I had no idea idea it would fall this much but I finally decided to stop pushing a rope by calling for change from the inside [as a shareholder]. I voted with my feet. This board has the blood of its shareholders on its hands, and I hope they wear that scarlet letter stigma for a long time.”
Asked to comment on Mithras Capital Partners proposal that Yahoo (YHOO) sell itself to Microsoft (MSFT) for $22 a share, Jackson had this to say: “If I was in Redmond, I’d say why not wait a few weeks and pick this company up for a couple of bucks?”