Buying Stock in Yahoo: YHOO
August 13, 2008 by Pablo Palatnik
I love the stock market. I keep a close eye on certain companies I follow because I like them or I like the industry. Lately, I’ve had a close eye on the technology sector given that’s what we do as online marketers, keep an eye on technology and advertising/marketing companies. I guess you can define a search engine as both.
I’ve only made one real stock purchase and that was about 4-5 years ago when I bought shares in NetFlix:NFLX at around $12-14, now it is at around +$30.
I had some money to invest in a money market account and decided to buy shares in Yahoo (YHOO). There is so much controversy and speculation surrounding this company, but it is the 2nd largest search engine in the U.S. AND it’s got some of the hottest properties on the web. It’s currently re-organizing its board with some of the biggest names in business. It will be appointing former Viacom’s CEO Frank Biondi and former Nextel Partners CEO John Chapple.
Yahoo was about to be sold to Microsoft so MSFT could build its online business to compete with Google but that didn’t happen. That could be back in the table any day as it has gone back and fourth for a bit but now Yahoo has made a search deal with Google to outsource some of its search.
The stock is currently lingering at around $20 (I bought my shares at $19.90.) Its 52 week high is $34.08 and its 52 week low is $18.52.
Given that I believe Yahoo won’t go anywhere and will either become stronger or a deal will come about soon that will benefit the company, this is a good buy if you can invest. The stock right now (if you own it) analyst opinion is hold but some say it is also a strong buy.
