NEW YORK ( TheStreet) -- I finally pulled the trigger. I am long Yahoo! (YHOO - Get Report).
On Tuesday morning, I got in at $15.80. While the stock could very well break out above $16.00 again, I intend to accumulate below that level. Opportunities should present themselves, whether on earnings or as part of broad market pullbacks.
If you enjoy the tech space and appreciate innovation, it's difficult to find a more attractive proposition than YHOO.
As usual, numbers only tell part of the story, however, they do support Yahoo! as a viable turnaround candidate.
We forget that the company does about $5 billion in annual revenue, has very little debt and, thanks to a deal with
, sports a war chest full of cash. Yahoo!'s Web properties are some of the world's most heavily-trafficked sites with strong presences in crucial areas such as sports and finance.
Everybody uses Yahoo! Some of us love it.
I'm not sure Yahoo! requires a turnaround per se; rather, it needs a few pipes cleaned, meaningful cosmetic changes and better focus.
Yahoo!'s board not only made the right choice when it hired Marissa Mayer as CEO, it did the right thing by providing her with what appears to be free reign over the resources she needs to execute.
Think about what's going on at Yahoo! And think about how it makes practically every other public company we follow in tech come off as less than.
Yahoo! had the guts to give the under-40 Mayer her first gig as CEO when she was just weeks away from having a baby. A young woman with a brand new kid as CEO. That's almost as groundbreaking as a black president or openly gay top executive.
Let's unpack that.
Mayer came back to work just two weeks after having her child. That should shut up
the chauvinist pigs
who thought the pregnancy might pose a problem.
I have to assume that Mayer's quick return, particularly because she dug right back in poaching another key player from
(GOOG - Get Report)
, helps rally the troops. Male or female, it has to fire you up to have a strong, confident woman as your leader during a time when you're starving for competent leadership.