&gt; The company minus Alibaba has negative market value. It&#x27;s that bad.<p>Umm no. The stock has tax implications priced in.<p>YAHOO STOCK = ALIBABA + YAHOO + YAHOO_JAPAN - TAX_FOR_ALIBABA<p>All the breathless press about Yahoo core being zero works only if set TAX_FOR_ALIBABA = 0.<p>No way a company making  billions of dollars can logically have negative market value.