Greenlight Capital chief David Einhorn unloaded his stake in Yahoo Inc (YHOO.O) just months after building a sizable position, swallowing a "modest loss" after an ownership dispute tarnished the Internet company's prized Chinese assets. Greenlight told investors saying it was exiting the investment after it emerged that China's Alibaba -- of which Yahoo owns about 40 percent -- had transferred its highly valued online-payments business to a separate company controlled by Alibaba founder Jack Ma. That move marked the latest blow to Yahoo, which CEO Carol Bartz is struggling to get back on a growth track. Its Asian assets, including its slice of Alibaba, are deemed the most valuable portion of the company. Yahoo shares were down 1.5 percent at $15.57 in afternoon trading Friday.
Yahoo! Inc. (Yahoo!) is a digital media company. Yahoo! provides engaging and innovative canvases for advertisers to connect with their target audiences. Shares of YHOO fell by 1.49% or $-0.235/share to $15.58. In the past year, the shares have traded as low as $12.94 and as high as $18.84. On average, 28114500 shares of YHOO exchange hands on a given day and today's volume is recorded at 11722813.
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