Altaba

Altaba owns Excalibur IP, LLC, a patent company; controls a significant minority interest in Yahoo! Japan (35.5%) and Alibaba Group (16.3%)

Alibaba

Altaba owns Excalibur IP, LLC, a patent company; controls a significant minority interest in Yahoo! Japan (35.5%) and Alibaba Group (16.3%).

Yahoo! Japan

Altaba is an investment company formed after Verizon's acquisition of Yahoo! Inc's Internet business.

NEW YORK--(BUSINESS WIRE)--Altaba Inc. (“Altaba” or the “Fund”) today announced that the Board approved a liquidating distribution of $1.10 per share of the Fund's common stock, par value $0.001 per share, or $571,462,502 in the aggregate (the “Liquidating Distribution”), which will be payable on August 13, 2024. As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the “Plan”), purs.

Altaba Announces Liquidating Distribution of $1.10 Per Share

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The 72% drop in share price was matched almost exactly by a massive dividend payout, as this asset management fund is winding down for good.

Why Altaba's Stock (Kind of) Crashed Today

Shares of Altaba Inc. AABA, +0.41% were trading in Tuesday's premarket at a price that is 73% below Monday's close, following its previously announced cash distribution as part of investment fund's liquidation plan.

Altaba's stock trading 73% below prior day's close to reflect pre-dissolution distribution

Altaba Inc.  declared Friday a pre-dissolution liquidating distribution of $51.50 in cash per share this month, which was less than originally estimated.

Altaba declares distribution price as part of liquidation plan, which is less than original estimates

Altaba is a cash shell trading at a discount to NAV.

Altaba: Cash Shell Offering Double Digits Annualized Return

Altaba, Inc. (AABA) has outperformed Alibaba Group Holding Limited (BABA) since its creation after Verizon Communications Inc.

Selling Altaba To Buy Alibaba

Altaba's dissolution plan will give shareholders cash and potentially ADRs of Alibaba.

Altaba: Still A Better Investment Than Alibaba

Elsewhere, Dave & Buster's rose after reporting a strong fourth quarter.

News for Altaba Stock (AABA)