After Yahoo’s decent earnings report, investors were gaining a little bit of confidence in the company.
But whatever confidence they were gaining evaporated when Yahoo disclosed that the Alibaba Group had sold off a part of its business without telling Yahoo.
Considering that much of Yahoo’s value is now tied to its Asian assets, this was devastating. It set off a fresh round of questions about how much control Yahoo actually has over its Asian assets and send the stock crashing.
Follow the Chart Of The Day on Twitter: @chartoftheday
Business Insider Emails & Alerts
Site highlights each day to your inbox.