WebProNews

Yahoo appears to have avoided disaster today with the stock only punished 15 percent or so. It is currently trading at $24.61 per share, down $4.06 from Friday's close. Yahoo shares are still $5.13 higher than their price just before Microsoft's offer three months ago.

Either the market believes that Microsoft was only withdrawing their $33 per share offer as a strategy to force Yahoo to accept a new offer later or Yahoo is now seen as re-energized and therefore more likely to succeed in raising revenue and profits.

Unfortunately for Yahoo this Wall Street honeymoon may be short lived.

Yahoo's next quarterly report will be released in late July. Surely by then, investors will want proof in the numbers that Jerry Yang was correct in his belief that Microsoft's offer substantially undervalued Yahoo. Bad news in July and shareholder patience with Jerry Yang and the Yahoo board may finally run out.