Why Yahoo Is A Good Buy Right Now

Carl Icahn just bought another 6.8 million shares of Yahoo this week bringing his share of Yahoo to just under 5%.
He paid around $9.87, which is less than 1/3 of what he paid last year. He now controls 3 seats on the board and is said to be active in the role of looking for Jerry Yang’s replacement.
What does this mean? Well, it doesn’t mean that they have found a CEO replacement (if so, it would be insider trading since the news isn’t public). But, what it does mean is that Icahn is bullish that their selection pool for the CEO process is strong and he knows the news will push the stock price higher. With such a down economy, their chances of finding powerful talent to take over the position is much greater. Yahoo shares will be jumping up Monday following Icahn’s speculative purchase and possibly even greater later in the week if they find the replacement.