Yahoo shares got crushed into the close, falling 7.6% on Tuesday with most all of this happening in just a few minutes before the close, and no one is exactly sure why at this point.
We’ve seen is a tweet from CNBC’s Dominic Chu, said a report indicated China may have been raising an import tax. A potential hang up with this is that Alibaba shares were little changed on Tuesday.
Additionally, a report from Briefing.com said there were suggestions by some in the market that the dump could be related to a possible IRS opinion on the potential tax status of its Alibaba spin off.
In the last 24 hours, the company also announced the departure of its CIO, but this news was out before the market open on Tuesday and is unlikely to be culprit behind the late day collapse in the stock.