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Yahoo! Inc (NASDAQ: YHOO) shares are 7 percent higher in premarket trading after Alibaba Group Holding Ltd (NYSE: BABA) reported better-than-expected earnings. Alibaba is indicated more than 10 percent higher ahead of the opening bell.
At yesterday's closing price, Yahoo's stake in Alibaba was worth roughly $23.28 billion. At today's open, the stake is worth $25.61 billion.
But, interestingly, the more than 7 percent gain in Yahoo has also increased the value of its other businesses. Yesterday, investors were valuing Yahoo at $15.82 billion outside of its Alibaba stake. At $44.60, its other lines of business are valued at $16.2 billion.
Yahoo still plans to move its stake in Alibaba into a tax-free spinoff, a move it announced in January. The company still holds a substantial stake in Yahoo Japan, worth roughly $9 billion. In April, Yahoo announced that it was considering cashing in its Yahoo Japan stake after hiring advisors to evaluate the move.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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