Dallas, Texas 07/11/2013 (Financialstrend) – During the latest trading session, short interest for YHOO has increased by 10%, bringing the number of shares short sold to 29.3 million, signaling a healthy amount of sideline cash. In other words, YHOO may end up in future short-covering activity that leads to share hikes. Marissa Mayer, Chief Executive Officer of Yahoo!, took the reins a year ago and since then her popularity has slipped, since 84% of the company’s staff approved of Mayer’s leadership in Yahoo in the second quarter of the year, down from the previous 91% achieved in the third quarter of 2012, her first three month period as CEO. Mayer has struggled to improve employee morale as part of her effort to build new services and applications that generate losses to the users and advertisers of Facebook, Inc. and Google, Inc. The company is over the past three quarters providing perks such as extended leave and free food for parents. An average of 85% approval rating would have helped her to achieve positive rating. Reviews critical of Mayer’s leadership included also a recent complaint about the recruitment approval process, which now takes around 22 days, up from the previous of 8 days.
Yahoo! Inc.’s (NASDAQ:YHOO) share price declined by 0.43 percent on Wednesday and closed at $26.56 per share for the day. Intraday prices for the stock touched a low of $26.19 and a high of $27.07 per share. Trading volume stood at 15.10 million shares on Wednesday, with an average one of 15.17 million per day of trading.
Yahoo!, Inc. (NASDAQ:YHOO) currently has a 52-week low price of $14.59 and a 52-week high price of $27.68 per share. The market cap is $29.62 billion with 1.12 billion shares outstanding and 75% of institutional ownership.