Billionaire investor George Soros is betting big on a Yahoo comeback, more than tripling his stake in Yahoo last quarter, MarketWatch reports:
Soros Fund Management LLC more than tripled its stake in Yahoo during the quarter ended in December, increasing it to 3.5 million shares from 726,900 shares held at the end of September, according to regulatory filings.
Yahoo shares were trading at $15.29 on Thursday, which would value the firm’s stake at over $53 million. Soros’ firm may have reduced its Yahoo stake since the end of the quarter. Michael Vachon, a spokesman for Soros Fund Management, declined to comment.