The general consensus on Yahoo's rise remains to be Alibaba and continued aggressive buyback of shares.
The problem with the consensus is that Yahoo, as a core internet and mobile property, is grossly undervalued. For those who say the valuation is merited because of the stagnation in the properties are not paying attention.
The one app I think they can totally kick ass on is Finance. Especially given their push to advance their data science side of their business. Unfortunately, Yahoo Finance app is lagging. (Although I like the new web design.)
The revamped web properties performance remain to be seen, but I like them. And especially encouraging is the fact that they are set up to produce an interest graph. With known interest, ads will be at a premium, ad rates rise and higher revenues.
It's hard ignore what Yahoo is doing. It's also become a pure play on internet and mobile advertising. No concerns about being dragged down by non-core businesses.
The higher demand in non-interest baring convertible offerings this morning is nice indication I am not alone in the above thesis. Probably the most bullish of all investors is Yahoo itself. They have backed up the truck, and have purchased a ton of share. The new announcement maybe their final buy back in a while, given this could be the start of the arbitrage.