On July 17, Yahoo! shares grew by 10.3% at once and hit the target of $29.66 apiece. It is the highest value that the securities of the internet company have not been bid since October 2007.
Investors rushed to buy up Yahoo! stock following the announcement about the financial data upsurge of Chinese Alibaba Group where Yahoo! owns the stake a bit less than the blocking minority. During the first quarter 2013, the Alibaba’s net profit almost trebled, the revenues rose by 71%.
Traders have not been able to put up their capital directly in Alibaba so far, since the company’s shares are not circulating on the stock exchange. The Chinese company is expected to hold initial public offering either in late 2013, or in 2014.
Last year, Yahoo! shares displayed nearly the best dynamics among the other securities of the US Internet companies trading on exchanges. So, Yahoo! shares have mounted up by 88% since mid-July 2012. To compare with Facebook’s similar reading turned out to be -13%, Google was +60%, and eBay was +43%.
Earlier, business media attributed such dynamics not only to Alibaba’s advance and relatively low stock price a year ago, but also to the change of the company’s management. It was exactly a year ago, when Marissa Mayer took the lead of Yahoo! The top executive was enticed from Google.