Yahoo! Inc. YHOO is receiving quite a bit of attention ahead of the Alibaba IPO, and for good reason. The company owns an estimated $35 billion worth of Alibaba stock according to Barron's, and plans to cash in a sizable portion of the stake in the immediate future.
Yahoo stock, in particular, is up a little over 12 percent in the past month.
Not surprisingly, social media users are chatting about the tech company Friday:
Never has a CEO's actions mattered so little to her stock price $YHOO
— Eric Jackson (@ericjackson) September 18, 2014
The Alibaba IPO is having a huge impact on Yahoo. Here's total message volume about $YHOO http://t.co/uQVAE4MjF7 pic.twitter.com/0NoffYLT0T
— StockTwits (@StockTwits) September 14, 2014
@chicagosean Sometimes it is better to not over think it. I am in $YHOO and you have to at least be in it to win it pic.twitter.com/SC7q7E1S9G
— Dan Mirkin (@TradeIdeas1) September 12, 2014
Yahoo could make nearly $10 billion on Alibaba's IPO.
— Vala Afshar (@ValaAfshar) September 19, 2014
And many are calling it a proxy for Alibaba:
Reminder: Before $BABA opens, $YHOO is the next best proxy.
— Ivan the K™ (@IvanTheK) September 19, 2014
Unsurprisingly, traders are using $YHOO as a proxy for $BABA's debut. The stock is our top trending: http://t.co/FPy6Q3EtrG
— Pierce Crosby (@CrosbyVenture) September 19, 2014
Will wait to see how $YHOO trades when $BABA comes out. If $BABA too spread or whippy, might use $YHOO as proxy if they correlate
— Anmol Singh (@DeltaNinety) September 18, 2014
Since 1/2 of $YHOO & 2/3 of $SFTBY are a proxy for owning $BABA, funds already have $80 bil Alibaba exposure ahead of $25 bil IPO.
— Brad Ginesin (@polar_cap) September 18, 2014
Disclosure: At the time of this writing, the author had no position in the equities mentioned in this report.
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