The Yahoo news discussion boards were no longer serving well as a vehicle for promoting the Neoconservative "Back to the 19th Century" movement. Accordingly, Yahoo shut them down without having a replacement in place.
The desolation of this company has only just begun. It will be complete and total in time.
Yeah - without Message boards, I will use google as my home page. I do like Yahoo's horoscopes. Clearly, Wall Street has impressed on Yahoo that free speech is too dangerous to allow.
YHOO has dropped below its 50-day ma today. It looks very weak and ready to break-down to test its lows of the year. I think it will be under heavy tax selling until the end of the year.
By the way, I sold short 900 shares today and am long 2000 QQQQ. Yahoo is my only short sale. I expect the Santa Claus rally to help nearly all stocks.
But as folks realize the YAHOO message boards are gone, they will turn away from YHOO and look to GOOGLE or even MSN. Who would want to advertise with YHOO with its ratings now about to drop so quickly.
If I has been YAHOO, I would simply have restricted each use to 5 posts a day. That would have cut their storage cost problem and given ample opportunity for people to think clearly before they posted.
But YAHOO is messed up for now and it should go down under tax loss pressure. It also shows heavy insider selling.
If they get their act together and set up message boards that encourage thoughtful free speech, I might even buy the stock. But for now, they are clearly in the clouds and lost. They may not make it safely back to a good landing strip. SO DOWN IT WILL LIKELY GO.