Stocks: (YHOO)(GOOG)
It would be hard to tell from the company’s stock price, but there is an increasing bet among investors that Yahoo!’s shares could swing up. Short interest in the stock fell 6.2 million shares to 78.1 million in December. Are the shares oversold? Ask a market technician.
Yahoo!’s stock traded at $32 six months ago. It now trades at just above $25.
Weak Q3 results and management turnover have not helped build confidence, so Yahoo!’s fans have to count on the new Panama intiative to get Wall St. ginned up about the stock. Panama is meant to match Google in the lucrative arena of getting targeted ad revenue from internet search results.
The company knows that the new software has to be a hit, and it is begging the media to pay attention to early results.
Maybe someone is listening.
Douglas A. McIntyre can be reached at [email protected]. He does not own shares in companies that he writes about.
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