Corporate governance is a lot about perceptions. Even if you set aside the fact that most of that growth comes from Yahoo's stake in Alibaba, you still have the

Corporate governance is a lot about perceptions. Even if you set aside the fact that most of that growth comes from Yahoo's stake in Alibaba, you still have the question about Yahoo's future and vision. If there is a perception that their future is shaky, that matters more than if things are likely to turn out badly. Should add, IANAL aka, I am no analyst