Yahoo Shares Fall 1.17 Percent on News of New York AG Subpoena

News of a subpoena issued by the New York Attorney General Wednesday as part of a probe into the Daily Fantasy Sports sector has resulted in a drop in its share price of 1.17 percent to $32.47 in afternoon trading.

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Yahoo was issued a subpoena by Attorney General Eric Schneiderman, though the firm was not named in Schneiderman’s filing.  The AG announced last week a probe into DFS giants DraftKings and FanDuel.

Yahoo says they are monitoring industry trends and events closely and believe that they offer a lawful product for their daily fantasy sports users.

Yahoo’s stock has traded at $32.76. The 52-week high of the share price is -37.69% and 52-week low of the share price is 20.55%. The market capitalization of the company is $31.03 Billion with the day volume of 218267 million shares.

Yahoo Sports Daily Fantasy, introduced in July, was a way to try to help revitalize a brand that has struggled in recent years. 

- Aaron Goldstein, Gambling911.com