Investors reacted to news that Yahoo is obviously hoping that Microsoft will buy the company, but Microsoft apparently has lost all interest in picking Yahoo up. Yahoo’s stock dropped another $2.03 or more than 14% on top of the declines experienced in recent weeks. The company’s stock is now valued at about one third of what Microsoft was reportedly willing to pay earlier this year.

The shares traded at about $11.93 at the time of this writing, translating into a market cap of about $16.6 billion. It appears that Yahoo may have gambled an opportunity away, but it may be interesting to see what Microsoft will do. If the current trend continues, Microsoft may be able to purchase Yahoo for for a fraction of its original offer.