After its last report, the stock got smacked. I wrote then that I thought the stock would have a big move up by Valentine's Day. This was a gut call that was supported by gut calls on other tech stocks that turned out to be correct. I felt Yahoo was a similar situation -- it wasn't.
Goes with the territory, being wrong.
A little bigger picture: Yahoo is a survivor and a good company. It proactively seeks out new products and new ways to monetize its business. I don't think too many people dispute this. This sort of good company stuff makes the stock compelling to me, and is why I own it for clients.
What is in dispute are market share issues, growth rate issues and so on. It is these issues that make the stock volatile and sometimes tough to own.
Every so often I will write about a stock coming from off the radar to be the top performing name in the portfolio. I have no idea if Yahoo is about to go on one of those runs but after languishing close to a low for many months, I have to think it is closer to a bottom than a top and perhaps it will take run sometime in the next couple of months.