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Yahoo! (YHOO) Stock Closed Up Despite 'Increasingly Dire' Finances

NEW YORK (TheStreet) -- Yahoo! (YHOO - Get Report) stock closed higher by 0.69% to $36.66 in Wednesday's trading session, even as "the financial situation at the Silicon Valley Internet giant is becoming increasingly dire," Re/code reported, after gaining access to financial documents that Yahoo!'s bankers have been giving to prospective buyers.

The cost to acquire traffic has reportedly surged to roughly $1 billion in 2016 from $875 million in 2015 and nearly $220 million in 2014.

This indicates that CEO Marissa Mayer has done search deals with companies such as Oracle (ORCL) that have basically purchased revenue but at a high cost, Re/code explains.

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