Yahoo share takes beating with Microsoft taking back their bid

Microsoft has taken back their acquisition offer for Yahoo after the two companies could not settle for on a price.

Yahoo’s stock is now being hammered at the stock market as it is already down 21 percent in pre-market trade.

This news development has also resulted in Citibank downgrading the Yahoo stock from BUY to SELL rating.

This was very much expected as the Yahoo stock price has risen in the recent weeks because of the Microsoft bid.

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