Shares Of Yahoo! Spike Higher, Make Parabolic Move Following Chinese Media Speculation

Shares of Yahoo! Inc YHOO spiked higher Wednesday morning. The move is likely related to a Chinese publication in which the anonyms author explored a potential takeover of the company by Alibaba Group Holding Ltd's BABA founder Jack Ma. "The acquisition of Yahoo is something I worked [on] a couple of years ago, this is a political problem, not an economic problem, Yahoo is a media, more sensitive," Jack Ma allegedly told the author. The publication claimed that Ma is exploring strategies to combat Google Inc GOOG GOOGL and Apple Inc AAPL by planning out a longer-term vision, which may include acquisition Yahoo. The author further alleged that Ma said that an acquisition of Yahoo would be "very natural" and that "the money is worth it." The entire article in its original language can be seen here.