Yahoo! is going to launch a stock trading platform

The American information technology giant Yahoo intends to launch a trading platform with stock trading available. Such a strategic step will allow the company to expand its areas of activity and even become a kind of analogue of Bloomberg for retail investors. Yahoo also plans to take up sports betting. 

The trading platform will be created in the Yahoo Finance division and will allow retail traders to use its data as part of their trading tools.

In addition, sports betting will become another area of activity of the information technology giant, as part of the development of the Yahoo Sports direction. Here the company will conclude deals with major betting companies. 

In 2020, Yahoo reported annual revenue of $7.1 billion. A year later, Yahoo and AOL (an American media conglomerate) were acquired by private equity giant Apollo Global Management for $5 billion. Also in 2021, Yahoo received $1.6 billion from the Japanese holding SoftBank for the Yahoo Japan license, which provided the company with additional capital to expand its offerings.