- Yahoo (YHOO -2.5%) is following Alibaba (down 4.1%) lower after the Chinese e-commerce giant disclosed the SEC is probing consolidation practices and related-party transactions, as well as data reported regarding Alibaba's Singles Day activity.
- Yahoo rallied earlier this month after Alibaba reported its revenue growth accelerated in calendar Q1. The company's 384M-share Alibaba stake has a current pre-tax value of $29.9B.
- Now read: Yahoo: Low Bids Wouldn't Be Surprising