Yahoo dips into the $9 range
Yahoo fell as much as 4 percent in early morning trading Thursday, pushing the Internet pioneer's share price into the $9 range.
Shares of Yahoo dipped as low as $9.92 a share, even as broader markets moved upward.
For Yahoo, its share price has been slipping in $1 increments at a rapid rate, creating a dark cloud around its ticker. The company's share price closed in the $10 range on Wednesday. It was in the $11 range on October 15, the $12 range on October 9, the $13 range on October 8, and the $14 range on October 7.
Yahoo's stock price over the past three months
(Credit: FinancialContent.com)The next critical milestone that investors need to be wary of is the $5 mark. A number of institutional investors, such as pension funds, asset managers, and endowments, have policies that require them to discard stocks that fall below $5. As a result, a stock price's fall will greatly accelerate after that milestone is crossed.
Yahoo is currently trading at a price it hasn't seen since March 2003, but a $5 price tag would take it to a level not witnessed since October 2002.
Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn.
- Topics:
-
Advertising and marketing
- Share:
- Digg
- Del.icio.us
Jerry gets the dunce cap of the year award for not selling to Microsoft. Ballmer should stay away now.
Successful companies that realize this strategy are able to withstand the downturn in the economy and thus emerge years later in a stronger position and IPO again with a higher stock price.
Huh? Where did you see that in the article?
Buy low, wait for it to rise, and then sell.
(And it WILL rise)