Yahoo Hits a 52-Week High
Shares of Yahoo closed on Friday at $23.26 — the highest mark the stock has reached in the past year.
That’s a gain of 55 percent since CEO Marissa Mayer took over in July.
Major drivers of the Yahoo gains have been hopes for a Mayer-led turnaround, stock buybacks, and Alibaba’s growing value. Yahoo owns a 20 percent share of the Chinese e-commerce giant, where a new CEO is expected to take the company public in the next year.
At the same time, our own Kara Swisher’s reliable fodder of Yahoo executive departures hasn’t slowed in recent months. Some of the bigger ones include the head of Yahoo News, the global platform head, the head of Yahoo Mail, the head of Yahoo Connections and the chief information security officer. Meanwhile, there’s been widespread yelling about Mayer’s crackdown on employees working from home.
The bigger question, which remains unanswered, is whether Mayer can actually fix Yahoo’s core.