In shelling out $100M for Powerset, MSFT basically weakens YHOO’s leverage and value. It’s not a coincidence that YHOO is now flirting with $20/share.
I know YHOO’s main value is in traffic and audience, not search technology. But the market is not so discerning, to it, it views MSFT ramping up its search know-how as reducing their appetite for YHOO’s IT in search.
YHOO is now at $20.75, about a buck over where it was trading on January 31, 2008, before MSFT launched its unsolicited $31 bid.
Can’t believe it’s been 5 months since that.
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