Yahoo's Stock Tumbles, As It Keeps Suffering Along With Alibaba Shares

By Tomi KilgoreMarketWatch Pulse

Yahoo Inc.'s stock dropped 6.6% in premarket trade Monday, as it continues to follow the fate of of Chinese e-commerce giant Alibaba Group Holding , of which it still own 384 million shares. Through Friday, Yahoo's shares had fallen 37% from its 14-year high reached on Nov. 17, 2014, while Alibaba's stock had lost 43% from its record high a week earlier. Alibaba shares slid 7.6% ahead of Monday's morning, as China's benchmark Shanghai Composite plunged 8.5% overnight. Yahoo's stock is on on track to open at the lowest level since Sept. 24, 2013. Yahoo announced plans in January to spin off its Alibaba stake, but it's not expected to occur until the fourth quarter of this year.

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