SAN FRANCISCO (AP) -- Yahoo's (NASDAQ: YHOO) shares have touched $19 Monday, marking the first time they have traded that high in more than two and half years.

The latest gains extend a rally that has been gaining momentum in recent weeks as Yahoo buys back its own stock and more investors bet on CEO Marissa Mayer's ability to turn around the long-struggling company.

Mayer, a former top executive at Internet search leader Google (NASDAQ:GOOGL), became Yahoo's fifth CEO in less than a year when the company hired her in July. Since her arrival, Mayer has vowed to make the Sunnyvale, Calif., company a better place to work, refine its online services, and roll out more products tailored for smartphones and tablet computers.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.