Yahoo stock surges on expected stock split
Reuters Story - July 06, 1998 16:35
PALO ALTO, Calif., July 6 (Reuters) - Yahoo! Inc. shares
surged Monday on expectations the company would follow other
Internet businesses an announce a stock split, analysts said.
Yahoo was the biggest gaining stock on NASDAQ and finished
the session up $26-3/8 to $199-1/4.
Bob Walberg, an Internet analyst with Briefing.com in
Chicago, said that with Yahoo's share price approaching $200,
the company likely wants to bring it down to a range more
appealing to individual investors.
Although investors have rushed to buy Internet stocks at
any price, recent splits by Excite Inc. , Lycos
and other online companies spurred even more buying.
Walberg said he thinks Yahoo will announce a split of "at
least" 3-for-1 and possibly 4-for-1, although he did not rule
out a conventional 2-for-1 split either.
He added if Yahoo stock is not split, "not only will I be
surprised, the whole market will be surprised."
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hoping for a 4-for-1 split myself, i want in!! |
