Why Yahoo Shares Lost Only 15%

The bottom didn't fall out of the stock after Microsoft yanked its bid. One reason, says CEO Yang: "We have more alternatives" than before the offer
Justin Sullivan/Getty Images

When Microsoft (MSFT) pulled its sweetened, $33-a-share offer to buy Yahoo on Saturday, May 3, shareholders of the Internet portal braced for the worst. The concern was that Yahoo's stock price, which stood at $28.67 the day before—nearly $10 higher than it was before Microsoft's unsolicited bid Feb. 1—would head for the depths again.

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