YHOO Shares Crash: MSFT, GOOG Stocks Rise
May 5th, 2008After Microsoft withdrew the offer to buy Yahoo!, the expected happened on NASDAQ stock exchange – YHOO shares crashed, while MSFT and GOOG are holding firm and rising. The stock sell off has wiped out huge investor gains that followed after the Microsoft bid started.
YHOO vs MSFT
At time of writing this, the Yahoo stock (YHOO) has crashed by over 16% in the stock market to around $24 while the Microsoft (MSFT) and Google (GOOG) share prices gained by 2% . The Yahoo! share crash has wiped out a huge 50 percent gain in Yahoo stock price since Microsoft Corp. made its initial offer on Jan 31.
Imagine Microsoft had offered upto $33 per share to Yahoo! shareholders and now the stock is hovering at $24! I suppose some speculative investors are still hoping that the falling Yahoo! stock price might make Yahoo! reconsider the Microsoft bid again. Anyway, these stock market games will continue and I am sure some big bulls have earned a fortune out of this battle of the web giants.
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