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Carl Icahn Buys More Yahoo
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Carl Icahn must think that Yahoo will make money. Even for a wealthy billionaire, spending approximately sixty seven million dollars is significant:
“…Icahn started his buying spree on Monday by purchasing 3.7 million shares. On Tuesday he took home 2.7 million shares, and bought about 376,000 shares on Wednesday.”
link: Icahn Snaps Up 7 Million More Yahoo Shares
Previously, Carl Icahn was purchasing Yahoo shares when the stock was valued in the mid-twenties range. Now, with Yahoo touching below ten dollars, the share is a relative bargain. Reports indicate that Carl Icahn owns 75.6 million shares of Yahoo. It is a sizable investment in believing that Yahoo will be profitable.
Catherine Forsythe