Ebullient Toronto accountant James Steels bought some Yahoo! Inc, (YHOO) stock this week and wrote up why. Read: Portfolio Action: Purchase – Yahoo! (NYSE: YHOO).
Job applications at Yahoo! are skyrocketing under new CEO Marissa Mayer, according to Steels, although the market has beat him to the bunch: Yahoo shares have doubled since last year. Still, he makes a great point.
“Access to key talent is above-all-else in the tech industry (attracting and retaining outstanding talent leads to great products, which leads to more users, which leads to increased advertiser interest, and finally, more revenue). Applications are up 20% since the start of the summer and have shot through the roof since Marissa joined the company. Now, who said telecommuting was a great way to increase employee morale?”
Here’s the 12 month Yahoo! chart, Yahoo! Marissa.
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