Elsewhere, Dave & Buster's rose after reporting a strong fourth quarter.
News & Analysis: Altaba Inc
The tightly focused investment fund didn't make any real moves in the fourth quarter. Its only significant holding fell 13%, though.
The investment fund is very nearly a perfect proxy for investing directly in Alibaba. If you like that company, you'll appreciate this stock as well.
Chinese e-commerce titan Alibaba delivered strong third-quarter results, and that stock makes up 72% of Altaba's financial portfolio.
The "alternative Alibaba" took a big hit due to shaky consumer economics in China.
Taiwan Semiconductor, Altaba, and LG Display do a lot of their business in China. It makes sense that tariffs and trade tensions should slash their stock prices, but that's still the wrong reaction in some cases.
The tightly focused investment firm formerly known as Yahoo! reduced its Alibaba holdings and exited its second-largest holding entirely during the third quarter.
Long story short -- yes, it is. But should you prefer it over Alibaba's shares? That's not quite as clear.
For the first time, the investment company formerly known as Yahoo! has unloaded some of its core stock holdings. That juicy Alibaba portfolio remains untouched, though.
The closed-end investment firm lives and dies by its largest investment, Chinese e-commerce titan Alibaba. Both of the "abas" had a really nice May this year.