In an article on Forbes, Gordon Scott said that that Yahoo! Inc. (NASDAQ:YHOO) might be the best choice for investment right now. He said that when Marissa Mayer signed up for the job, the company was in trouble but with a few useful decisions, she turned Yahoo! Inc. (NASDAQ:YHOO) into a profitable company. Scott thinks that Yahoo! Inc. (NASDAQ:YHOO) share price could double in the coming years but there are a few issues which must be sorted out before the success era kicks off.
Scott thinks that Yahoo! Inc. (NASDAQ:YHOO) will need to show some fortitude in the coming days. A lot of its success depends upon Alibaba. Many investors think that shares of Alibaba are overpriced but this is not the case. Alibaba shares will go up in the coming days, automatically giving a surge to Yahoo because both the companies are interconnected.
It is also reported that Yahoo! Inc. (NASDAQ:YHOO) has decided to shut down many of its services like Yahoo! Inc. (NASDAQ:YHOO) news, movies, and stocks. In the first quarter of 2015, Yahoo news will be shut down in Chile, Romania, Venezuela, South Africa and some other countries. The company has issued a statement saying that these services will be shut down in order to get more focused on important services and apps which users need instead of exhausting the resources which are not used by people.
Yahoo! Inc. (NASDAQ:YHOO) She, Yahoo OMG, Yahoo! Inc. (NASDAQ:YHOO) Entertainment and many other services will be closed in Vietnam, Malaysia and Indonesia before the end of the current year.
David E. Shaw’s D.E. Shaw & Co., L.P. reported owning about 16.19 million shares in Yahoo! Inc. (NASDAQ:YHOO) by June 30.