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Friday, July 8, 2011

Greenlight Capital sells Yahoo stake -source, (NASDAQ: YHOO)

Greenlight Capital sold its stake in Yahoo Inc (YHOO.O), a source familiar with the trade said on Friday. The sale comes less than three months after David Einhorn, head of the hedge fund firm, told investors that Greenlight had built a position in Yahoo stock at $16.93. Yahoo shares fell 2 percent to $15.50 in morning 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 2.06% or $-0.325/share to $15.48. 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 5700936.